Destructive Creativity Of Wall Street And The East Asian Response

Destructive Creativity Of Wall Street And The East Asian Response

Author: Michael Siam-heng Heng

Publisher: World Scientific

Published: 2009-05-04

Total Pages: 267

ISBN-13: 9814467766

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The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies.This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.


Book Synopsis Destructive Creativity Of Wall Street And The East Asian Response by : Michael Siam-heng Heng

Download or read book Destructive Creativity Of Wall Street And The East Asian Response written by Michael Siam-heng Heng and published by World Scientific. This book was released on 2009-05-04 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies.This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.

Destructive Creativity of Wall St. and the East Asian Response

Destructive Creativity of Wall St. and the East Asian Response

Author: Michael S. H. Heng

Publisher: World Scientific

Published: 2009

Total Pages: 267

ISBN-13: 9814273783

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The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies. This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.


Book Synopsis Destructive Creativity of Wall St. and the East Asian Response by : Michael S. H. Heng

Download or read book Destructive Creativity of Wall St. and the East Asian Response written by Michael S. H. Heng and published by World Scientific. This book was released on 2009 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies. This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.

The Theoretical and Practical Dimensions of Regionalism in East Asia

The Theoretical and Practical Dimensions of Regionalism in East Asia

Author: Karolina Klecha-Tylec

Publisher: Springer

Published: 2016-11-29

Total Pages: 372

ISBN-13: 3319402625

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This book provides a comprehensive overview of developments in East Asian regionalism, combining qualitative evidence with empirical quantitative analysis. It argues that two dominant processes have formed East Asian regionalism: 1) regionalization, and 2) inter-regionalism. Klecha-Tylec examines the differences between traditional and new regionalisms as they apply to East Asia; the differences between East Asian and European regionalism; the role of the United States in shaping regional links; and the evolution of the three key structures of ASEAN, ASEAN+3, and Asia Summits. The book is unique for examining together the network, zonal, and geospatial dimensions of relations in East Asia as they apply at micro-regional, sub-regional, macro-regional, trans-regional and inter-regional levels. The book offers a detailed analysis of intra-regional links and the hybrid relationships between micro-regions and nation-states.


Book Synopsis The Theoretical and Practical Dimensions of Regionalism in East Asia by : Karolina Klecha-Tylec

Download or read book The Theoretical and Practical Dimensions of Regionalism in East Asia written by Karolina Klecha-Tylec and published by Springer. This book was released on 2016-11-29 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of developments in East Asian regionalism, combining qualitative evidence with empirical quantitative analysis. It argues that two dominant processes have formed East Asian regionalism: 1) regionalization, and 2) inter-regionalism. Klecha-Tylec examines the differences between traditional and new regionalisms as they apply to East Asia; the differences between East Asian and European regionalism; the role of the United States in shaping regional links; and the evolution of the three key structures of ASEAN, ASEAN+3, and Asia Summits. The book is unique for examining together the network, zonal, and geospatial dimensions of relations in East Asia as they apply at micro-regional, sub-regional, macro-regional, trans-regional and inter-regional levels. The book offers a detailed analysis of intra-regional links and the hybrid relationships between micro-regions and nation-states.

Great Recession, The: History, Ideology, Hubris And Nemesis

Great Recession, The: History, Ideology, Hubris And Nemesis

Author: Michael Siam-heng Heng

Publisher: World Scientific

Published: 2010-07-16

Total Pages: 285

ISBN-13: 981433863X

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Many books on the 2008 financial crisis and the current recession focus on the financial sector. Unlike them, this book takes the real economy as the starting point and it situates the downturn within the societal context over the last several decades. Important elements of the story include global manufacturing overcapacity and declining profitability, failure of advanced industrial economies to make a quantum jump in discoveries and innovations across a broad range of technologies, ascent of neo-liberalism after the fall of the Berlin Wall, the Asian financial crisis, the Japanese “lost decade”, and the dot-com boom. This provides the backdrop of the birth of a market society, deregulation, easy credit, and financial excesses.The financial crisis reveals much that has gone astray in the business world over the last few decades — short term thinking, manipulation of figures and image management at the cost of the basics. The financial sector has become an arena for accounting shenanigans and corporate skullduggery. It is also a symptom of deeper social and cultural change. Crisis of a very serious nature functions as a cleansing exercise. Already we have seen debates which re-examine values and ideas, state policy and business practices. If the world could rise to the challenge, history will view the crisis as a blessing in disguise and thus render it in positive terms.


Book Synopsis Great Recession, The: History, Ideology, Hubris And Nemesis by : Michael Siam-heng Heng

Download or read book Great Recession, The: History, Ideology, Hubris And Nemesis written by Michael Siam-heng Heng and published by World Scientific. This book was released on 2010-07-16 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many books on the 2008 financial crisis and the current recession focus on the financial sector. Unlike them, this book takes the real economy as the starting point and it situates the downturn within the societal context over the last several decades. Important elements of the story include global manufacturing overcapacity and declining profitability, failure of advanced industrial economies to make a quantum jump in discoveries and innovations across a broad range of technologies, ascent of neo-liberalism after the fall of the Berlin Wall, the Asian financial crisis, the Japanese “lost decade”, and the dot-com boom. This provides the backdrop of the birth of a market society, deregulation, easy credit, and financial excesses.The financial crisis reveals much that has gone astray in the business world over the last few decades — short term thinking, manipulation of figures and image management at the cost of the basics. The financial sector has become an arena for accounting shenanigans and corporate skullduggery. It is also a symptom of deeper social and cultural change. Crisis of a very serious nature functions as a cleansing exercise. Already we have seen debates which re-examine values and ideas, state policy and business practices. If the world could rise to the challenge, history will view the crisis as a blessing in disguise and thus render it in positive terms.

Bibliographie Mensuelle

Bibliographie Mensuelle

Author: United Nations Library (Geneva, Switzerland)

Publisher:

Published: 2009

Total Pages: 598

ISBN-13:

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Book Synopsis Bibliographie Mensuelle by : United Nations Library (Geneva, Switzerland)

Download or read book Bibliographie Mensuelle written by United Nations Library (Geneva, Switzerland) and published by . This book was released on 2009 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Creative Destruction

Creative Destruction

Author: Tyler Cowen

Publisher: Princeton University Press

Published: 2009-01-10

Total Pages: 192

ISBN-13: 1400825180

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A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "My Way" as the theme song for his fifty-fourth birthday. It is a commonplace that globalization is subverting local culture. But is it helping as much as it hurts? In this strikingly original treatment of a fiercely debated issue, Tyler Cowen makes a bold new case for a more sympathetic understanding of cross-cultural trade. Creative Destruction brings not stale suppositions but an economist's eye to bear on an age-old question: Are market exchange and aesthetic quality friends or foes? On the whole, argues Cowen in clear and vigorous prose, they are friends. Cultural "destruction" breeds not artistic demise but diversity. Through an array of colorful examples from the areas where globalization's critics have been most vocal, Cowen asks what happens when cultures collide through trade, whether technology destroys native arts, why (and whether) Hollywood movies rule the world, whether "globalized" culture is dumbing down societies everywhere, and if national cultures matter at all. Scrutinizing such manifestations of "indigenous" culture as the steel band ensembles of Trinidad, Indian handweaving, and music from Zaire, Cowen finds that they are more vibrant than ever--thanks largely to cross-cultural trade. For all the pressures that market forces exert on individual cultures, diversity typically increases within society, even when cultures become more like each other. Trade enhances the range of individual choice, yielding forms of expression within cultures that flower as never before. While some see cultural decline as a half-empty glass, Cowen sees it as a glass half-full with the stirrings of cultural brilliance. Not all readers will agree, but all will want a say in the debate this exceptional book will stir.


Book Synopsis Creative Destruction by : Tyler Cowen

Download or read book Creative Destruction written by Tyler Cowen and published by Princeton University Press. This book was released on 2009-01-10 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Frenchman rents a Hollywood movie. A Thai schoolgirl mimics Madonna. Saddam Hussein chooses Frank Sinatra's "My Way" as the theme song for his fifty-fourth birthday. It is a commonplace that globalization is subverting local culture. But is it helping as much as it hurts? In this strikingly original treatment of a fiercely debated issue, Tyler Cowen makes a bold new case for a more sympathetic understanding of cross-cultural trade. Creative Destruction brings not stale suppositions but an economist's eye to bear on an age-old question: Are market exchange and aesthetic quality friends or foes? On the whole, argues Cowen in clear and vigorous prose, they are friends. Cultural "destruction" breeds not artistic demise but diversity. Through an array of colorful examples from the areas where globalization's critics have been most vocal, Cowen asks what happens when cultures collide through trade, whether technology destroys native arts, why (and whether) Hollywood movies rule the world, whether "globalized" culture is dumbing down societies everywhere, and if national cultures matter at all. Scrutinizing such manifestations of "indigenous" culture as the steel band ensembles of Trinidad, Indian handweaving, and music from Zaire, Cowen finds that they are more vibrant than ever--thanks largely to cross-cultural trade. For all the pressures that market forces exert on individual cultures, diversity typically increases within society, even when cultures become more like each other. Trade enhances the range of individual choice, yielding forms of expression within cultures that flower as never before. While some see cultural decline as a half-empty glass, Cowen sees it as a glass half-full with the stirrings of cultural brilliance. Not all readers will agree, but all will want a say in the debate this exceptional book will stir.

Technology, Economic Growth and Crises in East Asia

Technology, Economic Growth and Crises in East Asia

Author: G. Chris Rodrigo

Publisher: Edward Elgar Publishing

Published: 2001

Total Pages: 216

ISBN-13:

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This important book develops an evolutionary conception of growth in East Asia, in which technology, organizations and institutions interact and co-evolve to advance productivity. Episodic crises are seen as disruptions which bring to the fore structural and institutional flaws that need reform. The author begins with a thorough analysis of the neo-classical theory of technical change and shows that it fails to capture crucial aspects of the various learning processes involved. He goes on to develop a comprehensive framework for understanding technological progress. Productivity growth is seen as deriving from knowledge hard-coded in equipment and structures, and soft-coded in human skill, organizations and institutions that guide economic activity. The role of exports in promoting faster growth is also examined, as are the channels of technological capability acquisition. This book will be welcomed by academics, policymakers, students, government bodies and business people interested in East Asian growth and in understanding technological change in general.


Book Synopsis Technology, Economic Growth and Crises in East Asia by : G. Chris Rodrigo

Download or read book Technology, Economic Growth and Crises in East Asia written by G. Chris Rodrigo and published by Edward Elgar Publishing. This book was released on 2001 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book develops an evolutionary conception of growth in East Asia, in which technology, organizations and institutions interact and co-evolve to advance productivity. Episodic crises are seen as disruptions which bring to the fore structural and institutional flaws that need reform. The author begins with a thorough analysis of the neo-classical theory of technical change and shows that it fails to capture crucial aspects of the various learning processes involved. He goes on to develop a comprehensive framework for understanding technological progress. Productivity growth is seen as deriving from knowledge hard-coded in equipment and structures, and soft-coded in human skill, organizations and institutions that guide economic activity. The role of exports in promoting faster growth is also examined, as are the channels of technological capability acquisition. This book will be welcomed by academics, policymakers, students, government bodies and business people interested in East Asian growth and in understanding technological change in general.

Economic Growth and Development in Singapore

Economic Growth and Development in Singapore

Author: Gavin Peebles

Publisher: Edward Elgar Publishing

Published: 2002

Total Pages: 356

ISBN-13:

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In this book Gavin Peebles and Peter Wilson offer an historical overview of the rapid growth and development of the Singapore economy, detailing the institutions and policies which have made this growth possible. They examine the current state of the economy and its future in terms of prospective growth and structural change. The authors discuss the conflicting views on the role of government and the public sector in the economy, and analyse the quality and sustainability of growth. They explore the structural changes which have occurred due to high rates of savings and investment, a large balance of payments surplus and monetary, financial and fiscal conditions. Important in this analysis is the extent to which Singaporeans themselves have benefited in terms of welfare. The authors also identify the key roles played by trade policy, and financial and exchange rate institutions in creating and sustaining growth. In the aftermath of the Asian financial crisis, they assess the current health of the economy and the implementation of reforms to achieve the government's vision of a 'New Singapore'. Based on the authors' own combined experiences of living in Singapore for over 20 years, this broadbased and analytical book sheds light on Singapore's status in the world economy. The integration of economic, social and political perspectives will ensure the book's broad appeal amongst scholars, students and researchers interested in growth and economic development in Singapore and South-east Asia.


Book Synopsis Economic Growth and Development in Singapore by : Gavin Peebles

Download or read book Economic Growth and Development in Singapore written by Gavin Peebles and published by Edward Elgar Publishing. This book was released on 2002 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book Gavin Peebles and Peter Wilson offer an historical overview of the rapid growth and development of the Singapore economy, detailing the institutions and policies which have made this growth possible. They examine the current state of the economy and its future in terms of prospective growth and structural change. The authors discuss the conflicting views on the role of government and the public sector in the economy, and analyse the quality and sustainability of growth. They explore the structural changes which have occurred due to high rates of savings and investment, a large balance of payments surplus and monetary, financial and fiscal conditions. Important in this analysis is the extent to which Singaporeans themselves have benefited in terms of welfare. The authors also identify the key roles played by trade policy, and financial and exchange rate institutions in creating and sustaining growth. In the aftermath of the Asian financial crisis, they assess the current health of the economy and the implementation of reforms to achieve the government's vision of a 'New Singapore'. Based on the authors' own combined experiences of living in Singapore for over 20 years, this broadbased and analytical book sheds light on Singapore's status in the world economy. The integration of economic, social and political perspectives will ensure the book's broad appeal amongst scholars, students and researchers interested in growth and economic development in Singapore and South-east Asia.

The China Collectors

The China Collectors

Author: Karl E. Meyer

Publisher: St. Martin's Press

Published: 2015-03-10

Total Pages: 442

ISBN-13: 1466879297

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Thanks to Salem sea captains, Gilded Age millionaires, curators on horseback and missionaries gone native, North American museums now possess the greatest collections of Chinese art outside of East Asia itself. How did it happen? The China Collectors is the first full account of a century-long treasure hunt in China from the Opium Wars and the Boxer Rebellion to Mao Zedong's 1949 ascent. The principal gatherers are mostly little known and defy invention. They included "foreign devils" who braved desert sandstorms, bandits and local warlords in acquiring significant works. Adventurous curators like Langdon Warner, a forebear of Indiana Jones, argued that the caves of Dunhuang were already threatened by vandals, thereby justifying the removal of frescoes and sculptures. Other Americans include George Kates, an alumnus of Harvard, Oxford and Hollywood, who fell in love with Ming furniture. The Chinese were divided between dealers who profited from the artworks' removal, and scholars who sought to protect their country's patrimony. Duanfang, the greatest Chinese collector of his era, was beheaded in a coup and his splendid bronzes now adorn major museums. Others in this rich tapestry include Charles Lang Freer, an enlightened Detroit entrepreneur, two generations of Rockefellers, and Avery Brundage, the imperious Olympian, and Arthur Sackler, the grand acquisitor. No less important are two museum directors, Cleveland's Sherman Lee and Kansas City's Laurence Sickman, who challenged the East Coast's hegemony. Shareen Blair Brysac and Karl E. Meyer even-handedly consider whether ancient treasures were looted or salvaged, and whether it was morally acceptable to spirit hitherto inaccessible objects westward, where they could be studied and preserved by trained museum personnel. And how should the US and Canada and their museums respond now that China has the means and will to reclaim its missing patrimony?


Book Synopsis The China Collectors by : Karl E. Meyer

Download or read book The China Collectors written by Karl E. Meyer and published by St. Martin's Press. This book was released on 2015-03-10 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thanks to Salem sea captains, Gilded Age millionaires, curators on horseback and missionaries gone native, North American museums now possess the greatest collections of Chinese art outside of East Asia itself. How did it happen? The China Collectors is the first full account of a century-long treasure hunt in China from the Opium Wars and the Boxer Rebellion to Mao Zedong's 1949 ascent. The principal gatherers are mostly little known and defy invention. They included "foreign devils" who braved desert sandstorms, bandits and local warlords in acquiring significant works. Adventurous curators like Langdon Warner, a forebear of Indiana Jones, argued that the caves of Dunhuang were already threatened by vandals, thereby justifying the removal of frescoes and sculptures. Other Americans include George Kates, an alumnus of Harvard, Oxford and Hollywood, who fell in love with Ming furniture. The Chinese were divided between dealers who profited from the artworks' removal, and scholars who sought to protect their country's patrimony. Duanfang, the greatest Chinese collector of his era, was beheaded in a coup and his splendid bronzes now adorn major museums. Others in this rich tapestry include Charles Lang Freer, an enlightened Detroit entrepreneur, two generations of Rockefellers, and Avery Brundage, the imperious Olympian, and Arthur Sackler, the grand acquisitor. No less important are two museum directors, Cleveland's Sherman Lee and Kansas City's Laurence Sickman, who challenged the East Coast's hegemony. Shareen Blair Brysac and Karl E. Meyer even-handedly consider whether ancient treasures were looted or salvaged, and whether it was morally acceptable to spirit hitherto inaccessible objects westward, where they could be studied and preserved by trained museum personnel. And how should the US and Canada and their museums respond now that China has the means and will to reclaim its missing patrimony?

The American Enterprise

The American Enterprise

Author:

Publisher:

Published: 1998

Total Pages: 650

ISBN-13:

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Book Synopsis The American Enterprise by :

Download or read book The American Enterprise written by and published by . This book was released on 1998 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: