The Connections World: The Future of Asian Capitalism

The connections world, a web of close relationships between business and politics in modern Asia, facilitates transactional interactions and reciprocal benefits but comes with significant costs and fallibilities, such as market power, competition, and inequalities. To promote sustainable economic and political systems, major changes must be made to policy and behavior.

Format: Paperback / softback
Length: 360 pages
Publication date: 27 October 2022
Publisher: Cambridge University Press

The intricate web of interconnected relationships between business and politics in modern Asia stands as a defining characteristic that transcends differences in economic and political systems. These networks, known as the connections world, facilitate highly transactional interactions, resulting in significant reciprocal benefits. While the connections world has not yet posed a significant impediment to Asia's economic renaissance, it does come with considerable costs and weaknesses. One of the primary concerns is the emergence and consolidation of immense market power, which can lead to reduced competition and hinder the growth of productivity and innovation. Furthermore, these connections contribute to the perpetuation of significant inequalities, which have the potential to culminate in political instability.

The authors argue that if Asia is to maintain its position as a global leader in the 21st century, significant changes are imperative to dismantle the foundations of the connections world and promote more sustainable economic and political systems. This requires a shift towards policies that prioritize fair competition, promote inclusive growth, and address social and economic disparities. It also necessitates a change in behavior, where businesses and policymakers prioritize long-term sustainability, ethical practices, and social responsibility.

To achieve these goals, Asia must invest in education, infrastructure, and research and development to foster innovation and technological advancements. It must also promote open trade policies, facilitate investment flows, and encourage regional cooperation to create a more integrated and prosperous region. Additionally, policymakers must prioritize the development of social safety nets, healthcare systems, and employment opportunities to ensure that all citizens have access to basic needs and opportunities for upward mobility.

In conclusion, the connections world has the potential to bring significant benefits to modern Asia, but it also carries significant risks and challenges. By addressing the underlying issues and promoting more sustainable economic and political systems, Asia can ensure its continued growth and prosperity in the 21st century.

Weight: 506g
Dimension: 150 x 229 x 32 (mm)
ISBN-13: 9781009169776