Singaporean diplomat Kishore Mahbubani says the West should lose its arrogance and the East should step up to global leadership.

The country must develop its financial system in order to keep pace with China.

The conventional wisdom says that China is the biggest story of our time. Now, as India goes through a similar process characterized by historically high rates of growth and further integration into the global economy, it appears that the path it follows will influence the global economy and business environment. Perhaps, then, India is the next big story.

Global business leaders believe that they must have a strategy for both countries. China and India, despite their massive populations and growing importance, are quite different. Their economic structures, sources of growth, areas of competitive advantage and the impact they have will remain different in the coming years. The question, then, for global companies is what to do in each country. China is commonly viewed as the place to produce or procure goods, while India is seen as the place to procure business and information technology services. Yet in the future, this discrete division of labor might not be so clear or even relevant.

This study offers some thoughts on the future direction of India and China, the risks and opportunities of doing business in each country and the likely impact they will have on global business.

The rapid aging of the Japanese population will dramatically reduce savings and wealth-and cut off an important supply of capital to the world.

This series of interactive exhibits depicts the shape-and scope-of India's remarkable economic transition and its effects on consumers and businesses and then examines some of the challenges facing the country.

The purpose of the article is to outline the way in which Indians negotiate and the difficulties that such a style may pose for North Americans. We also explore the possible strategies that the North American manager may employ in his or her interactions with the Indians. We begin by outlining some of the dominant Indian cultural values, and subsequently assess their impact on the Indian negotiating style.

Valuations are linked to growth. So why are they lower in high-growth markets in Asia?

A consensus is emerging that global economic power is moving towards Asia, with India and China at the center of the region's rise. This study looks at the evolving relationship between the two emerging powers and explores the opportunities for them to grow together, learn from one another and collaborate to overcome shared problems and achieve shared goals.

Business leadership is at the core of Asian economic development, says HBS professor D. Quinn Mills. As he explained recently in Kuala Lumpur, the American and Asian leadership styles, while very different, also share important similarities.

The business system of the Japanese multinational comprises five interlocking parts. This article discusses these five characteristics and their respective contributions to the success of Japanese multinational companies.

Editor's Note: this was written in 1991, before the Japanese bubble burst. Still, I find it a brief but interesting look at the Japanese business system.

Western companies think too narrowly about the emerging world. If they aren't careful, they may end up as defenders, not attackers.

Guided by the ancient philosophy of bushido, a new generation of companies is set to emerge on the global scene.

The region is falling behind its rivals. Turning it into a true single market would boost its competitiveness and help restore its economic luster.

Corporate governance has undoubtedly improved in Asia. Some countries-Singapore in particular-have made significant progress. The next step is to instill the new behavior, and that will take time. Many corporate leaders, investors, and regulators in Asia articulate the benefits of more effective corporate governance. But they understand that enduring reform won't be achieved overnight and that, in the short term, many practical impediments and disincentives block the necessary changes.

To move ahead, both governments and companies in Asia must do their part. Companies should create stronger and more purposeful boards; enhance the scope, accuracy, and timeliness of financial reporting; and pay more regard to the rights and interests of minority shareholders. Governments should provide a strong legal and regulatory framework to underpin the reforms. While specific provisions will differ from one country to the next, any reform effort must include elements such as robust corporate and securities laws, tough accounting standards, strong regulators, efficient judicial systems, and determined efforts to clamp down on corruption. Without sustained progress in these foundations of corporate governance, any improvement at individual companies will fall far short of its potential.

Ripplewood and others are shaking up a traditionally closed market.

The answer is yes, but it won't be easy.

Many of the Western multinationals operating in Asia have a head start when it comes to achieving the potential benefits of cross-border integration. They already have an international reach that spans the region through established subsidiaries and experience of how to adapt to local conditions. But arguably the presence many multinationals have established in Asia is more suited to prospering in yesterday's competitive environment rather than being well attuned to winning in the next round-especially against the new breed of Asian multinationals that seems likely to evolve as Asian companies rise to the challenge of inter-nationalization.

When compared with the demands of Asia's changing competitive environment, the limitations of Western multinationals' existing bases in Asia typically lie in three areas: the "long, thin arm" problem, lack of cross-border integration within Asia, and the belief that it is sufficient to "think global and act local." If Western multinationals are to avoid losing ground to locals in the next round of Asian competition, these limitations will need to be addressed.

No longer content to be subservient and stiffed, the country's innovators are rising up, and cashing in, with a string of ground-breaking lawsuits.

India's upstart IT-services firms face their own challenges from their giant rivals in the West.

Note: Older EBF articles are not currently online. I'm not sure if this is temporary or permanent. If you click you will be taken to the Archive.org site to find an archived copy.

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The experience of doing business in Asia has been a sobering one for many MNCs - but companies can learn from the mistakes of others if they understand changing consumer behaviour and its strategic implications.

Note: Older EBF articles are not currently online. I'm not sure if this is temporary or permanent. If you click you will be taken to the Archive.org site to find an archived copy.

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Communist China is morphing into something that will one day become a pillar of global society. In the meantime, foreign investors need to consider the many possible routes the country may take to get there.

Editor's Note: see related articles, "China's State-Owned Enterprises: prepare for a turbulent flight"
http://www.ebfonline.com/main_feat/in_depth/in_depth.asp?id=429

and Giles Chance on 'China's State-Owned Enterprises'
http://www.ebfonline.com/main_feat/in_depth/in_depth.asp?id=430

Dangdang.com claims 800,000 unique visitors and takes up to 4,000 orders a day, more than half these days for DVDs and CDs. The firm's founder monitors Amazon for new ideas, which she then pinches--and encourages her employees to order from the American firm's site to get hints for customising her own.

Editor's Note: this is a topical article without long-lasting business take-aways, but the inside snapshot it offers of current infrastructure in China relative to the West is, for this ugly American, quite interesting.

The restructuring of Japan, Inc., provides great opportunities for acquisitive foreign companies, but also new challenges.

New research estimates that taxpayer liability for the Japanese financial crisis will total at least 24 percent of Japan's GDP.

Editor's Note: this article is a bit topical, but the issues addressed and the importance and longevity of the topic lead me to include it.

The reports of Japan's economic death are widely exaggerated. The country possesses huge wealth and technological savvy. American CEOs ignore the opportunity at their peril.

Read a counterpoint (Japan's Woes Far From Over) at:
http://www.chiefexecutive.net/depts/regionalreport/186-45.htm