Asian Eclipse: Exposing the Dark Side of Business in Asia - Softcover

Backman, Michael

Softcover

ISBN 10: 0471835536 ISBN 13: 9780471835530

Publisher: John Wiley & Sons, 2001

Synopsis

The recent downturn in the Asian economies has been blamed on many different factors. In this work, Michael Backman analyzes a number of dubious business practices that are endemic in the region and which he believes have played a significant part in Asia's downfall. Among the problems he identifies are cronyism, a corrupt business media, inadequate legal protection, questionable business practices by the big six accounting firms in Asia, and political patronage (including a revealing account of the Lippo Group's donations to Bill Clinton's campaign funds). He concludes with a discussion of whether Asia has learnt its lesson and an assessment of how far recent legislation will go to wipe out corruption.

About this title

Review

"Asia can be a crazy place" and conducting business in this region often means "grappling with cronies, corruption and conglomerates" according to author Michael Backman. In his book, Asian Eclipse, he takes us over the proverbial "Chinese wall" to reveal the bribery and corruption rife in the Eastern corporate world.

Delving into what constitutes "Asianess", he exposes a highly complex corporate landscape--one where Confucian thinking pervades all aspects of business culture; bankruptcy is considered an affront to one's ancestors; the media are threatened with closure for reporting on "sensitive" issues; patriarchal management and nepotism are the norm, often ending in costly family disputes; and auditing and corporate governance are new concepts! Through a thorough analysis of the different Asian markets, he lays bare the structurally inherent flaws that led to widespread economic crises in 1997-98. In his view, "the real Asian 'miracle' is that the economic collapse didn't happen earlier."

Packed with detail this book should be the bible for anyone considering doing business in Asia, but is also accessible to the lay reader. The chapters end with excellent case-studies which provide rare and fascinating insights into some of the more shady corporate practices in the region, including President Suharto's ventures, and also the contributors to Clinton's 1996 campaign funds. Backman recounts many incidents from first-hand experience, reflecting the wealth of knowledge he has accumulated from his extensive time in Asia.--Neelam Dongha

Review

- selected as one of the reviewers' favourites in General Non Fiction - "Michael Backman gets his hands dirty by delving into many of the region's corporate and political dynasties, and dishes up plenty of astonishing dirt. The bonus is that he really understands why business evolved the way it did in Asia." -- The Economist, 4th December 1999

Edition details

• Publisher: John Wiley & Sons
• Publication date: 2001
• Language: English
• ISBN 10: 0471835536
• ISBN 13: 9780471835530
• Binding: Paperback
• Number of pages: 424