July 21, 2009

Asia's Weakness in Global Economy

Andrew Sheng, China Post

Asian corporate strategies play a great role in the development of Asia, but their limitations are also the limitations to Asian growth. Asia's great success in their export-led manufacturing strategy was attributed historically to Asia being monsoon economies, where the seasonal nature of rice farming led to Asians becoming culturally adept at working together in rice fields and then in the dry season, being skillful at weaving and other handicrafts, so that the agricultural labor force adapted quickly to assembly line manufacturing. Of course, forward looking government policies to open up to foreign manufacturing, the attention to social infrastructure and education helped to equip their economies to copy, learn and then slowly move up the value...

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TAGGED: Asia, East Asia


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