Table of Contents

Handbook of Research on Asian Business

Handbook of Research on Asian Business

Elgar original reference

Edited by Henry Wai-chung Yeung

The rise of Asia as an important region for global business has been widely recognized as one of the most significant economic phenomena in the new millennium. This accessible and comprehensive Handbook brings together state-of-the-art reviews of Asian business in an expansive range of areas including: business organizations; strategic management; marketing; state–business relations; business and development; and business policy issues.

Chapter 1: Unpacking the Business of Asian Business

Henry Wai-chung Yeung

Subjects: asian studies, asian business, asian economics, business and management, asia business, international business, economics and finance, asian economics

Extract

Henry Wai-chung Yeung The rise of Asia as an important region for global business has been widely recognized as one of the most significant economic phenomena in the new millennium. In his February 2005 speech delivered at Lancaster University’s Management School, Stephen Green, the Group CEO of HSBC Holdings plc – the global bank that arguably knows Asia best – noted that the rise of Asia ‘will fundamentally reshape the world’s economic landscape in the decades ahead . . . At HSBC we believe developing markets will provide about half the growth in demand in the world economy over the next 25 to 30 years. And we believe that China and India will be core to that . . . I would go further and say that the economic modernisation of Asia is the most seismic consequence yet of the globalization of human commerce’ (Green, 2005: 1, 4). Many business and economic indicators have conclusively shown the superlative upward trajectories of Asian firms and Asian economies: the number of leading Asian firms listed in Fortune Global 500 is growing rapidly; the GDP per capita of Asian economies is increasing dramatically, and thereby creating huge domestic consumer markets; Asia is attracting a large proportion of the world’s foreign direct investment, and becoming a favourite investment destination for global corporations; China and India alone are contributing to a substantial portion of the world’s manufactured products and IT services; and the list of achievements by Asian firms and Asian economies goes on and on. While substantive academic studies of Asian...

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