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13 of 14 people found the following review helpful:
3.0 out of 5 stars
Selective & Lacking Depth But Nevertheless Informative, November 30, 1999
This review is from: Asian Eclipse: Exposing the Dark Side of Business in Asia (Hardcover)
Asia was a shining star in the world economy for most of the 1980s and 1990s. The secrets of its success were often a subject of intense debate. Plaudits cited Japanese economic power, Confucian work ethics, the freeing of China's markets, Eastern ingenuity and the powerful overseas Chinese guanxi networks. Critics were dismissed as ignorant of Asian values. But behind the façade lay a darker, more sinister truth. This remarkable account tears away the myths of Asian business and reveals the dark side of the Asian success story. The recent downturn in the Asian economies has been blamed on a number of factors. This controversial, eye-opening book analyzes a number of dubious business practices that are endemic in the region and which the author believes have played a significant part in Asia's economic downfall. Along with an in-depth examination of such troubling symptoms as widespread cronyism and inadequate legal protection, Asian Eclipse includes chapters on the unique business environments of Japan, China, and Indonesia. Of particular interest to Malaysians are the whole sections devoted to "The Mahathir Family in Business" (pp 304-311), "Sarawak Incorporated" (pp 311-314), and "Malaysia's Ekran Group" (pp 120-124). From endemic corruption to rampant cronyism, Asian Eclipse is a tale of capitalism gone sour, it names the perpetrators and offers timely advice on what is really needed for Asia to clean up its act. With its lucid explanations on how outside investors should approach the new Asian markets, it will remain an indispensable guide to the complexities of corporate Asia for years to come. Australian Michael Backman is a leading commentator on corporate Asia, regularly contributing to the Asian Wall Street Journal. Previously an executive officer of the East Asian Analytical Unit of Australia's Department of Foreign Affairs and Trade, he is known for this detailed and uncompromising analysis. Trained as an economist, he has lived and worked in Jakarta and travels widely throughout Asia. He is the principal author of Overseas Chinese Business Networks in Asia. He is now a fellow at the EC-ASEAN Management Centre. Reviewed by Azlan Adnan, Managing Partner of Azlan & Koh Knowledge and Professional Management Group
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8 of 8 people found the following review helpful:
4.0 out of 5 stars
Excellent data, worry about balance, July 6, 1999
By A Customer
This review is from: Asian Eclipse: Exposing the Dark Side of Business in Asia (Hardcover)
This books reads well and has great stories, valuable to know. However I'm worried about 2 things: 1. balance. There is plenty of very bad commercial practice in the west. The writer implies Asia is worse. I don't think it is, just different. It's tougher on outsiders. 2. WHY WHY WHY? I'd like to see the underlying rationale for why things work the way they do in Asia.They don't work that way to spite western business.There are deep reasons. As the author of 'Negotiating China', I know the above considerations are difficult to deal with, but I miss a deeper analysis in Asian Eclipse. Anyway congratulations to Michael Backman, it's a big, interesting book and I appreciate the huge amount of research that has gone into it.
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6 of 6 people found the following review helpful:
4.0 out of 5 stars
Resonates Well With My Own Exerience in Asia, October 4, 2003
Unlike most readers of this text, I am very familiar with nearly all of the information presented here, as many of these stories have occurred in the same time frame as my professional and personal experience living and working in the Pacific Rim. As such, the content of this book is not new to me, or for that matter, anyone in Asian business circles, as all of the stories have appeared in one or more of the regional newspapers at some point in time. However, in the author's defense, those observing the region from the outside would have to read well over 100 sources, many of them in foreign languages, on a daily basis to get the information that is presented in this juicy, scandalous book. Asian Eclipse presents the reader case after case detailing the more objectionable aspects of business in Asia. After reading many of the cases (presented by chapters devoted to each country in the Asian region), it becomes extremely difficult to distinguish any real differences, and I personally could not say if the individuals in question were Chinese, Japanese, Indian, Indonesian- the behavior in the end was virtually the same. Only the company name and the locality where the less-than-above-board behavior took place differed. The book actually pays for itself in the first three chapters, for here is where the reader will learn the commonalities across the region. It is also the place in the book where Backman chooses to delineate, albeit very briefly, the underlying reasons for the under-handed and unsavory business practices that unfortunately typify, but as we are increasingly seeing with the spectacular financial skullduggery of US and European corporations, are not wholly limited to the Asian corporate landscape. The author tells the would-be investor in Asia what it means to be a stakeholder in publicly listed and privately held companies in the region. Backman deftly delineates all of the obstacles one will face when doing business or directing investments toward Asia. Should you decide to invest in Asia be forewarned: Comprehensive due dilligence is paramount. Too many Western businesspeople who venture unaware into the region have found themselves holding the bag for the embarrassing things their so-called Asian partners have done before, during and after the partnership. One very important point from the book is this: In Asia, those who enforce the rules are also the same people who make the rules...and break them with impunity (Modern Feudalism writ large). Thus, any attempt to enforce the laws written on the legal books protecting minority corporate stakeholders (and foreigners are definitely relegated to minority positions) or to uphold terms and conditions as stated in written contracts, would only result in one and only one outcome- nothing. In other words, any rights and protections that you take for granted in the Western hemisphere simply do not exist in Asia. In sum, the book serves as a stern warning about commonplace business practices in Asia. It also serves as a good bit of contemporary regional financial history. Finally, I do not believe that any of the players learned the appropriate lessons from the various Financial Meltdowns, large and small and/or country-specific or regional. As is often the unfortunate case, the movers and shakers in this region of the world learned all the wrong lessons. Rather than opening up, reforming, and tackling their problems in a sincere and concerted fashion, they have chosen to insulate themselves, beseech their governments to bail them out, and spend precious time and resources shifting the blame- almost always to foreigners.
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