×

Uh-oh, it looks like your Internet Explorer is out of date.

For a better shopping experience, please upgrade now.

Remade in America: How Asia Will Change Because America Boomed
     

Remade in America: How Asia Will Change Because America Boomed

by Jim Rohwer
 

See All Formats & Editions

In a stunning rebuke to a large group of naysayers, Jim Rohwer convincingly argues that the Asian financial crisis of 1997-1998 was not a turn for the worse; rather it was short-lived and helped rid Asian markets of many of the problems that were holding it back. Now, while most analysts go wild over the American economy, Rohwer provides the key insights into why

Overview

In a stunning rebuke to a large group of naysayers, Jim Rohwer convincingly argues that the Asian financial crisis of 1997-1998 was not a turn for the worse; rather it was short-lived and helped rid Asian markets of many of the problems that were holding it back. Now, while most analysts go wild over the American economy, Rohwer provides the key insights into why America is due for a slowdown while Asia is poised for tremendous growth and opportunity.

Jim Rohwer has long experience in Asia as both a journalist and a business executive. The highly informed account in Remade in America comes from his own on-the-ground observation and analysis, as well as knowing all the major players in business, government, and the media in both America and Asia. Telling, in-depth interviews with people ranging from Lee Kuan Yew, the former prime minister of Singapore, and Jack Welch, the CEO of General Electric, result in deep insights into Asia's great potential.

The future of Asia is as much about the United States as it is about Asia, for the forces that revolutionized the American economy in the last twenty years provide the clues for what is to come in Asia. The key to Asian growth is understanding how Asian companies have learned from the strengths of both American and Asian business models. Remade in America clearly charts how Asian industries have started managing themselves based on American standards of corporate, technological, and economic performance that began to be adopted in the late 1990s, while incorporating their own strengths of cooperative corporate and social organization.

Asia is ideally suited to take advantage of the Internet revolution, and we are only now starting to see its enormous potential in this area. Rohwer's insightful analysis of Japan, China, Taiwan, South Korea, and Southeast Asia shows how, as these countries start to combine the ruthlessly efficient market democracy and accountability that America pioneered with the Asian domination of dispersed manufacturing and assembly of components, there will be major opportunities both for American corporations and for investors. In addition, technology will not only enable Asian economies to improve on their traditional strengths, it will also help Asia greatly improve its traditional poor performance in services and distribution.

Remade in America is a provocative and useful book, not only for those with direct business interests in Asia but also for readers who want an informed look at this dynamic and important part of the world. There will be a new Asia, Inc., one in which such matters as finance and technology will be handled in an American way while people will be managed along Asian lines in their interactions -- a powerful combination that we ignore at our peril.

Editorial Reviews

Publishers Weekly - Publisher's Weekly
Rohwer, a Fortune contributor, has covered Asia as a business journalist for years, and this is his second book (after Asia Rising) arguing that Asia will prosper as a result of changes in the U.S., and that Asian prosperity will repay the favor by nourishing the American economy in turn. The difference is that Asia Rising was written before the 1997 Asian financial crisis; this new book reconsiders its thesis in light of that crisis. The argument is that the financial trends transforming the U.S. economy in the 1980s --such as corporate raiding, junk bonds and financial deregulation--will do the same thing in Asia. Asians' greater resistance to change, among other factors, explains the time lag, and also predicts that the changes may be more violent there when they come. However, Rohwer also thinks there are real differences, such as Asians' greater discipline and lesser degree of selfishness, that will cause things to play out differently, mostly more positively, than they did in America. (Jan.) Forecast: Taken a few pages at a time, this is a readable book, as well written as a serious magazine article. But overall, the argument's intricate details will weigh down most general readers; the complex charts will scare off others. At the same time, the book lacks the citations and factual support expected of a serious academic or professional work. These drawbacks make it difficult to identify a clear market for this title; it would have been more palatable as a tightly written and edited 100-page thesis. Still, readers of Asia Rising may well want Rohwer's insights on the post-1997-crisis Asian situation. Copyright 2000 Cahners Business Information.
Business 2.0
Rohwer's argument that Asia is on the road to long-twrm growth by adopting American standards is convincing, provided, of course, that you believe the United States is really on the right path.
Kirkus Reviews
Just a few years ago there was a meltdown of Asian economies. That's history, writes a knowledgeable observer. Now, he claims, financial benefits will not just trickle down, they will flow copiously from America to the recovering tigers of the East. The 1997–98 hemispheric collapse is attributed by economist Rohwer (Asia Rising, 1995) to traditional and inherent lack of concern for credit risk, systemic institutional weakness (characterized by corruption and cronyism), and mindless international liquidity. The feckless IMF didn't help much, either. National pride, individual arrogance, disdain for unconnected shareholders, bizarre bookkeeping, and little understanding of the concept of due diligence are all described as contributing to the remarkable disappearance of value in this study of the causes, effects, and results of a financial panic. Despite its excesses, the author believes that the mysterious East shall rise again, no longer moribund and a lot less inscrutable. Their indigenous financial repairmen, trained in the US and clutching cell phones, are cognizant of the mighty impact of the new information technology. With (or even without) Western investment, the new Asian capitalists will certainly employ Western (i.e., American) management techniques, and although one impediment may be destabilizing politics, the change will surely come. With daunting thoroughness we are taken through the diverse, restricted economic turfs of Japan and Indonesia, Thailand and Taiwan. We learn of Singapore and Hong Kong from the local bigwigs. There are candid interviews with the likes of Jack Welch and Lee Kuan Yew. Daewoo and Samsung, Korean chaebol and Chinese family connectionsarecovered in this sweeping analysis. Along with the text, charts, and tables, many perverse readers may, however, wish for an executive summary. A current, exhaustive, and fact-filled tale of the Eastern phoenix (formerly a tiger) that will be of particular interest to economists, policy wonks, and investment bankers.. . . Ruggero, Ed DUTY FIRST: West Point and the Making of American Leaders HarperCollins (352 pp.) Feb. 2001

Product Details

ISBN-13:
9780609504123
Publisher:
The Crown Publishing Group
Publication date:
03/15/2001
Sold by:
Random House
Format:
NOOK Book
Pages:
432
File size:
1 MB

Meet the Author

Jim Rohwer is a senior contributing editor at Fortune magazine and a private consultant who has lived in Hong Kong since 1991. He was previously editor and publisher of Asia, Inc., executive editor of The Economist, and a chief economist for Asia in the Hong Kong office of CS First Boston. He has a J.D. from Harvard Law School and a M.A. in economics from the University of California, Berkeley. His website is jimrohwer.com.


From the Hardcover edition.

Customer Reviews

Average Review:

Post to your social network

     

Most Helpful Customer Reviews

See all customer reviews