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Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

Australian Government - Department of Foreign Affairs and Trade

Advancing the interests of Australia and Australians internationally

icon - Changing Corporate Asia

Changing Corporate Asia: What Business Needs to Know

7 March 2002

In crisis affected East Asian economies, the traditional relationship based business model is under threat, as major banks and corporates restructure or are nationalised. Many corporates, banks and suppliers can no longer use relationships to source and supply inputs and finance. Hence investment and growth are not recovering. Regional governments increasingly recognise they must rapidly construct a viable rules based business environment, supporting arms length dealings, if their economies are to return to robust growth. The report analyses how major regional economies are responding to this crucial challenge.

These developments have important implications for Australian business. First, those economies adopting stronger corporate governance standards should grow faster and be more viable trade and investment partners. Second, market access reforms and weaker local relationships should generate opportunities for Australian exporters, financial institutions and investors. Finally, Australian business service suppliers can help make East Asian corporates more open and accountable.

The first volume of this two volume report surveys and compares major market and corporate regulatory developments in East Asia and draws implications for business and government. The second volume provides a detailed analysis of current market and regulatory developments in 12 major regional economies: Japan, China, the Republic of Korea, Taiwan, Hong Kong, Indonesia, Thailand, Malaysia, the Philippines, Vietnam, Singapore and Australia.

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Department of Foreign Affairs and Trade