East Asian Business in the New World

East Asian Business in the New World

Helping Old Economies Revitalize
2016, Pages 53-68
East Asian Business in the New World

Chapter 4 - The Role of Culture in Economic Development: Does Culture Give East Asia an Edge Over America in Economic Competition?

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Abstract

This chapter first reviews the basic concept of culture and its effect on doing business and economic development. The author also integrates culture with the political and economic systems to show how they interact and affect a country’s economic development. The case of China is used to illustrate that a strong, pro-business culture has formed due to China’s unique historical path that is extremely favorable to economic growth and business operations. In conclusion, the author discusses whether and what the United States can learn from this type of pro-development culture existing in East Asia, especially in China.

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