Asian Eclipse: Exposing the Dark Side of Business in Asia

By Michael Backman

Book Overview

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

• Format: Hardcover
• Language: English
• ISBN: 0471835307
• ISBN13: 9780471835301
• Release Date: August 1999
• Publisher: Wiley
• Length: 412 Pages
• Weight: 1.75 lbs.
• Dimensions: 9.4" x 1.3" x 6.3"

Customer Reviews

Straight Talk, Pragmatic, Hard Hitting

This book is so pragmatic and unforgiving that many in Asia will find it hard to accept. Nevertheless, for those of us risking our livelihood in Asian business and who need clarity, not half-truths, it is really an excellent read. Few punches are pulled - but, is it is not about time that corrupt business practices in Asia were exposed? For those considering business ventures in Asia this book is a 'must read'. Some of the advice, particularly about the banking systems, might save your company a fortune. Well done Michael Backman - straight talk is what leads to new attitudes. Decent, honest Asian business people will celebrate your work. Unfortunately, cognitive dissonance is likely to prevail in many of the more corrupt quarters.

informative and a good read

Corporate Asia has big problems and this author is not afraid to tackle them head on. I don't agree with everything in the book - but then that's why I found it to be so interesting. Backman isn't afraid to challenge the reader. The author's love for the topic is obvious in the intensity with which he writes. It is some of Asia's corporate practices that he aims at rather than Asia itself. It is an important difference that not every reader will have the maturity to appreciate. Well done!

Incredible!!

The book is highly detailed with a mountain of research. Lots of amusing anecdotes written in an entertaining way. It's also very challenging and upfront. Sure to evoke a response from anyone who reads it!

Amazing revelations of truth that many won't like revealed

This book is a textbook as well as a novel. I was shocked and amazed by how close the author, as a non-Asian, was able to get to truth of business practices in Asia. Not many Westerners understand how business is done in Asia - this author does. He has revealled what many Asian businessmen don't like to be widely known. Also, I like to read about real people and what they are doing - this is very useful.

Spot on for the way the financial world really works in Asia

After having lived and worked in Asia in the banking and financial sector, I can say that this book is the most astonishingly accurate account of how corporate Asia really functions that I've ever read. I'm surprised the author has been able to say as much as he has as candidly as he has. There's no doubt that it is highly controversial and that there is a lot in it that many in Asia will be uncomfortable with. It exposes all those business practices that if you haven't worked in business in Asia you just wouldn't believe were possible, and because it uses real names and companies it makes it just riveting reading. It is brutally honest and also quite well written. The author has written it more in the style of a story with first hand experience rather than as a reference book (although it could be used as the latter as well especially MBA students.) It is filled with anecdotes and stories, some of which are amusing but all are telling. Nothing appears to be sacred to the author - whether it is the business interests of a lot of Asia's political leaders such as the Sultan of Brunei, the Kings of Thailand and Malaysia, as well as huge amounts on the unsavoury practices going on in Asia's banks, stockmarkets and by the Asian partners of the Big 6 accounting firms. The chapter on Japan is unrelenting and ably demonstrates why the Japanese government doesn't seem able to fix the country's problems. I also found interesting info such as Planet Hollywood, Fashion Cafe and Crabtree and Evelyn being Asian owned. The book is an absolute page-turner and highly recommended, but not for the politically correct. That is one thing the book isn't.