Edited by Léo-Paul Dana, Mary Han, Vanessa Ratten and Isabell M. Welpe
1 Ilan Alon, Wenxian Zhang and Bob Moore Asia includes rich Muslim nations such as Saudia Arabia; less wealthy Muslim countries such as Indonesia and Malaysia; transitional economies, including China, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan, Cambodia, Laos, and Vietnam (see Dana, 2002); the Newly Industrialized Economies – Singapore, South Korea, and Taiwan, and mature industrialized economies such as Japan (see Dana, 1999; 2007). Some of Asia’s economies were formerly British or French; others were Ottoman (Dana, 2000). It is, therefore, difficult to speak in generalities about all of these markets at the same time since historical, cultural and economic differences may mask the realities of the marketplace and varied human conditions (Cragg, 1993). As such we shall focus in our examination below on a number of important markets in more detail to show how the differences are manifested. Specifically, China is now by some measures the second largest economy in the world and a transitional economy that is changing the value systems and the economic well-being of its neighbors. Japan, on the other hand, is another special case study since the country has an aggressive history with its neighbors and a strong nationalist sentiment. We provide herein as a case study a comparison between these two great nations. Cultural factors are also very important in the formation of living conditions and economic growth. We provide another case study that examines the cultural values of Asia that have led to risky behaviors and the Asian financial crisis. It would be...
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