Asian Eclipse

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Conducting business in Asia often involves navigating a landscape filled with cronies, corruption, and conglomerates, as highlighted by author Michael Backman. In his exploration, he unveils the pervasive bribery and corruption within the Eastern corporate world. By examining the essence of "Asianness," he reveals a complex business culture influenced by Confucian values, where bankruptcy is seen as a dishonor to ancestors, and the media faces threats for covering sensitive topics. Patriarchal management and nepotism dominate, frequently leading to costly family disputes, while concepts like auditing and corporate governance are still emerging. Through a detailed analysis of various Asian markets, Backman exposes the structural flaws that precipitated the economic crises of 1997-1998, arguing that the real "miracle" is that such a collapse didn't occur sooner. This comprehensive work serves as an essential guide for anyone interested in Asian business, yet remains accessible to general readers. Each chapter concludes with insightful case studies that shed light on dubious corporate practices in the region, including notable instances involving President Soeharto and contributors to Clinton's 1996 campaign. Backman's firsthand experiences enrich the narrative, showcasing his extensive knowledge gained from years spent in Asia.