Book Description

The extraordinary economic success of East and Southeast Asia over the last forty years, and the likelihood that this success will continue during the next twenty-five years and expand to India, is one of the great events of the second half of the twentieth century. In one of the year's most provocative business books, Jim Rohwer argues that the wealth generated by Asia's resurrection will create tides of business and financial opportunities for Western companies and their workers.

Drawing on examples from throughout the region, Rohwer shows how governments that combine free-market economic policies and very limited welfare benefits have unleashed the creative and adaptive abilities of their citizens, in the process creating huge new middle classes of consumers. China has already begun to follow in its neighbors' footsteps, and India is poised to do the same: together these two giants, whose fate will sway that of all of Asia, will be the engines that drive Asia's economic expansion into the twenty-first century.

How will Western, and in particular American, firms fare in the competition for Asia's booming business? Assessing the relative strengths and weaknesses of American, European, Japanese, and South Korean multinationals, Rohwer finds that many American firms hold some critical advantages, including an ability to adapt to the cultures of Asia and to the diverse methods by which business is conducted in that part of the world. Overall, American companies appear well situated to profit handsomely from Asia's growing demand for financial, construction, and other services.

From Publishers Weekly

By the year 2020, Asia will be home to the largest middle class in history, bringing "the greatest boon to world prosperity in modern times," writes Rohwer, former Asia correspondent for the Economist and current director for CS First Boston's Hong Kong office. Many Americans fear they'll lose jobs to cheap Asian labor. However, Rohwer thinks the Asian middle class will soon emerge and demand quality goods and services, creating thousands of jobs for Americans. The United States, according to Rohwer, is "best positioned to profit from the rise of Asia [especially in] the most advanced industries where America is most competitive," and huge shares of the market are up for grabs. His optimistic and well-reasoned book is recommended for academic economic collections.

　　　　　　　　　　　　　　　　　　　　　　　　　Kris Swank, American Graduate Sch. of Intl. Management Lib., Glendale, Ariz.

From Booklist

The author boldly asserts that Shanghai will be "the most sophisticated and open financial market" in the eastern hemisphere by the year 2020. Rohwer is an economist for CS First Boston, based in Hong Kong, and has been the Asian correspondent and executive editor for The Economist. After provoking with his predictions, he provides economic and political analysis to back his claims. Although he considers the whole of Asia, he provides in-depth looks at China and at frequently neglected India. He also sees a huge and thriving middle class growing throughout Asia, and that is the basis for the rosy outlook suggested by his subtitle. Rohwer optimistically argues that Asia should not be seen as a threat to American jobs but rather as a potential market for American-made products.

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　David Rouse