FEATURE
PAPER
Competing
with India and China: Strategic Choices for ASEAN Member
States
The
following paper was presented at the 2007 Allied Academies
International Conference - Jacksonville. It was written
by Charles A. Rarick of Barry University.
Abstract
India
and China have experienced astonishing economic growth
in recent years. Their
continued accession into world-class competitor status has
been seen as a threat to the economies
of Southeast Asia. This paper explores that emerging threat
and offers advice to ASEAN member
states on how to compete effectively with these emerging
economic superpowers. Introduction
The
four largest emerging economies of the world are often called “BRIC” countries,
referring to the four economies of Brazil, Russia, India, and
China. In reality it now appears that
India and China are by far the major players in this club of
emerging countries. India and China are
poised to change the economic landscape of the 21 Century and
will significantly change the economic dynamics of Southeast
Asian nations. China will continue to dominate in manufacturing
capacity, and India will excel in information technology and
services (Lall & Albaladejo 2004;
Saran & Guo 2005). With China taking labor intensive manufacturing,
and India capturing the
upper-end of the value chain, and both attracting increasing
levels of foreign direct investment
(FDI), Southeast Asian countries are wondering what will be
left for them. Southeast Asian
countries have also seen less interest from the United States
as U.S. foreign policy has shifted in a
post-September 11 environment (Francis 2006). While such concerns
are legitimate, a better th
approach to this challenge is to view the changing economic
conditions as not only a threat, but also
as an opportunity. As Kenichi Ohmae (2002), noted Japanese
strategist tells us: “China is a threat,
a customer, and an opportunity.” The same logic applies
to India as well. The new strategic focus
should be on questions such as how do we position our businesses
to sell, buy, and produce in these
two giant Asian economies. In his recent book, Three Million
New Capitalists, Clyde Prestowitz
(2005) argues that a more prosperous India and China are good
for the economies of the world,
providing businesses with billions of new consumers. In a 2005
Asian Development Bank study, it
was found that China’s new ability to attract FDI had
a positive effect on the flow of foreign
investment into Southeast Asia. One reason for this spill-over
effect is the concept of a “China Plus
One” strategy in which investors seek to invest in China
and other countries in the region in order
to reduce political risk. Many Southeast Asian countries can
be the beneficiaries of this risk
diversification strategy. In addition to viewing the emergence
of India and China as opportunities
as well as threats, there are a number of other things that
can be done to prosper from the emergence
of these two economic superpowers.
Read
the Entire Paper...
.
TIP
OF THE WEEK
Adapting
to US Business Culture
If you are a recent immigrant to the United States or, otherwise,
grew up in a culture outside the U.S. mainstream, you can apply
all of the concepts and skills in this chapter to help you
adapt to U.S. business culture. Here are some key points to
remember as you become accustomed to business communications
in this country:
• Individualism. In contrast to cultures that value group
harmony and group success, U.S. culture expects individuals to succeed
by their own efforts and it rewards individual success. Even
though teamwork is emphasized in many companies, competition
between individuals is expected and even encouraged in many
cases
•
Equality. Although the country’s historical
record on equality has not always been positive and inequalities
still
exist, equality is considered a core American value. This
applies to race, gender, social background, and even age.
To a greater
degree than people in many other cultures, Americans believe
that every person should be given the opportunity to pursue
whatever dreams and goals he or she may have in life. •
Privacy and personal space. People in this
country are accustomed to a fair amount of privacy, and
this includes their “personal
space” at work. For example, they expect you to
knock before entering a closed office and to avoid asking
questions
about their personal beliefs or activities until they
get to know you well.
• Time
and Schedules. U.S. business value punctuality
and the efficient use of time. For instance, meetings are expected
to start and end at designated time.
• Religion. The
United States does not have an official state religion. Many
religions are practiced throughout the country,
and people are expected to respect each other’s beliefs.
• Communication
style. Communication tends to be direct
and focused on content and transactions, not relationships or group
harmony.
These are generalizations, of course. Any nation of 300 million
people will exhibit a wide variety of behaviors. However, following
these guidelines will help you succeed in most business communication
situations.
Courtland
L. Bovee and John V. Thill. Business
Communication Today. Pearson, Prentice Hall.
2008. pg. 74.
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CONFERENCES
CADMEF
& DMEF
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| Who: |
Chicago Association
of Direct Marketing Educational Foundation and
Direct Marketing Educational Foundation
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| What: |
Case Writers' Workshop
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| Where: |
Hyatt Regency, Chicago |
| When: |
October
13, 2007 |
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ASBE
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Association
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| What: |
2007
Conference
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Austin,
Texas, USA |
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October
10-12, 2007 |
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ISBE
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Institute
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30th
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Heriot-Watt
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November
7-9, 2007 |
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SMA
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Nashville, Tennessee, USA |
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November 7-10, 2007 |
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MMA
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Marketing
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MMA Fall Educators Conference
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St. Louis, Missouri, USA |
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September
26-28, 2007 |
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FSF
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FSF
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World Entrepreneurship Summit
08
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London,
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January
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Submission
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ACME
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Association
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2008 ACME Conference
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Hyatt Regency Houston, TX |
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March 4-8, 2008 |
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September 30, 2007
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HANOI
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Alfred University,
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University of Guam, School of Business and Public
Administration (Guam)
Vietnam National University, Hanoi School of Business
(Vietnam)
|
| What: |
Doing
Business in the Global Economy: Economic, Political,
Social, and Cultural Environment
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| Where: |
Hilton
Hotel, Hanoi, Vietnam
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| When: |
March
10-11, 2008 |
Submission
Deadline:
December 15, 2007
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SBI
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| Who: |
Small
Business Institute
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| What: |
2008 SBI Conference
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| Where: |
Handlery
Hotel – San Diego, CA |
| When: |
Feb.
14-16, 2008 |
Submission
Deadline:
October 1, 2007
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