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

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.

Asian Eclipse Exposing the Dark Side of Business in Asia 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 facade lay a darker, more sinister truth. In this remarkable account, leading analyst Michael Backman tears away the myths of Asian business and reveals the dark side of the Asian success story. 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. It will remain an indispensable guide to the complexities of corporate Asia for years to come. Highlights include:
* China - rising star or black hole?
* Japan - high-level corruption, organized crime and poor corporate governance
* Indonesia - the ultimate victim of Soeharto's rampant cronyism
* Donorgate - President Clinton's campaign funds and the Asian connections
* Corporate Asia - What really happens to shareholders' money
"Mr Backman's great achievement is to answer the really important questions about why the Asian crisis erupted. This book uncovers a great deal which Asian companies and governments would like to remain under wraps." Steve Vines The Independent's correspondent in Hong Kong Author of Hong Kong: China's New Colony "A gold mine of facts.it should be required reading for every foreign banker and fund manager arriving in Southeast Asia." Philip Bowring Columnist, International Herald Tribune