The Smaller Economies of Pacific Asia and Their Business Systems

Gordon Redding

in Oxford Handbook of International Business

Published in print August 2001 | ISBN: 9780199241828
Published online November 2003 | e-ISBN: 9780191596834 | DOI:
The Smaller Economies of Pacific Asia and Their Business Systems

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The historical background to the business systems of the smaller economies of Pacific Asia and the general characteristics of the region are discussed. While in most Western capitalist systems, the accessing of capital is now largely a private activity, in the smaller economies of Pacific Asia the government is much more involved in this. The countries concerned fall into several categories—South Korea, Taiwan, and Singapore, where the state is very forcefully involved, the ASEAN states outside Singapore where the governments monopolize economic power but are not yet authentically capitalist, and Vietnam where the political will for radical change is weak; Hong Kong is a special case of positive non‐intervention by government. A further characteristic of the business systems in these countries is that they are opaque. The last part of the chapter considers the business systems in specific national cultures: South Korea; Hong Kong, Taiwan, and Singapore; Indonesia, Malaysia, Philippines, and Thailand; and Vietnam.

Keywords: business systems; Hong Kong; Indonesia; Malaysia; Pacific Asia; Philippines; Singapore; South Korea; state intervention; Taiwan; Thailand; Vietnam

Chapter.  9023 words. 

Subjects: International Economics

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