International Business in the New Asia-Pacific: Strategies, Opportunities and Threats

Description

The Asia-Pacific region, sustaining more than four decades of rapid growth, has emerged as an economic force comparable in significance to Europe and North America. This book examines the economic, geopolitical, technological, demographic, and cultural forces that shape the international business strategies in the Asia-Pacific region. Specifically, it examines the seismic shifts in global business environment since the new century, and addresses emerging opportunities and threats in the Asia-Pacific region.  This book offers new insights for international business in areas such as trade policy, supply chains, international investment, technological innovation, international marketing, digital economy, and human resources. The enclosed comprehensive and diverse analyses of the international business landscape in the New Asia are invaluable to scholars, managers, politicians, and policy makers alike. This book is engaging and informative. It presents a collection of diverse and cutting-edge topics that offer new insights into International Business activities in the Asia-Pacific region, raising questions for debate and opening pathways for future research. A must-read book for International Business scholars.― Hussain G. Rammal, University of Technology Sydney, Australia This book offers a comprehensive introduction to the general business environment in Asia. It highlights the complexities and dynamics of doing business in Asia and provides insightful understandings of emerging issues in the region. The chapter-by-chapter analyses of the region depict the rich thematic contexts in which key issues and challenges facing corporate executives as well scholars in international business. I believe that this book is valuable for students of international business, global business environment and regional studies. ―Hongxin Zhao, Saint Louis University, USA Contents About the Contributors Part I: Introduction Chapter 1: The Asia-Pacific Region: The New Center of Gravity for International Business 1.1 Introduction 1.2 Major Developments in the Twenty-First Century 1.2.1 Economic Integration 1.2.2 Global Financial Crisis 1.2.3 International Environment 1.2.4 Technological Competition 1.2.5 Aging Population 1.2.6 Global Pandemic 1.3 A Transformed Asia-Pacific Region 1.3.1 Asia as the World’s Manufacturing Center 1.3.2 Asia as a Thriving Consumer Market 1.3.2.1 Growing Consumer Market 1.3.2.2 Increasing Consumer Market Digitalization 1.3.3 Asia as a Leading Hub for Innovation 1.4 Organization of the Book 1.5 Conclusion References Part II: Changing Business Environment in the New Asia Chapter 2: The Changing Business Landscape in an Era of Growing US-China Strategic Rivalry 2.1 Introduction 2.2 Evolution of US–CHINA Relations in the Past Four Decades 2.3 Recent Actions and Policy Measures from Both Sides 2.4 The Impact of US–China Relations on Business Landscape: A Retrospective 2.5 The Changing Business Competitive Landscape in an Era of US–China Strategic Rivalry 2.6 Conclusions References Chapter 3: Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): Implications for the  Asia-Pacific Region 3.1 Introduction 3.2 An Overview of the CPTPP 3.3 The Economic Impact of the CPTPP 3.4 The Geopolitical Implications of the CPTPP 3.5 Implications for the Asia-Pacific Region 3.5.1 Economic Benefits 3.5.2 Standardization 3.5.3 Supply Chain Relocations 3.5.4 Anti-corruption and Transparency 3.5.5 Geo-economic Considerations 3.6 The Future of CPTPP 3.6.1 Scenario 1: Retention of Current Membership 3.6.2 Scenario 2: Expansion of Membership in CPTPP 3.6.3 Scenario 3: US Renegotiation of CPTPP 3.6.4 Scenario 4: China’s Participation 3.7 Discussions 3.8 Conclusions References Chapter 4: Managing a Demographically Driven Labor Shortage: An Assessment of Japan’s Strategic Approach 4.1 Japan’s Demographic Time-Bomb 4.1.1 Aging and Labor 4.1.2 Labor Shortage Costs 4.2 Strategy 1: Women in Japan 4.2.1 Government’s Strategic Tools 4.2.2 Strategy Effectiveness 4.2.3 Key Strategy Performance Shortfall Factors 4.3 Strategy 2: Japan’s Elderly 4.3.1 Government’s Strategic Tools 4.3.2 Strategy Effectiveness 4.3.3 Key Strategy Performance Shortfall Factors 4.4 Strategy 3: Foreign Workers 4.4.1 Government’s Strategic Tools 4.4.2 Strategy Effectiveness 4.4.3 Key Strategy Performance Shortfall Factors 4.5 Discussion 4.5.1 The Root Causes 4.5.2 Inadequate Government Support Reasons 4.5.3 Going Forward 4.5.4 The Potential Role of Technology 4.5.5 Conclusion References Chapter 5: The Impact of Self-Construals and Thinking Styles on Business and Management Practices: A Comparison of East Asia and North America 5.1 Introduction 5.2 What Is Culture? 5.3 Independent Vs. Interdependent Self 5.3.1 Self-Construal and Workplace Management 5.3.2 Self-Construal and Marketing Strategies 5.4 Analytic Vs. Holistic Thinking 5.4.1 Cognitive Style and Information Exchange 5.4.2 Cognitive Style and Marketing Strategies 5.4.3 Cognitive Style and Investment Decisions 5.5 Final Thoughts 5.5.1 The Impact of Culture on International Business in the Asia-Pacific Region 5.5.2 Some Caveats References Part III: Asian Firms’ Business Strategies in the New Century Chapter 6: The Broad and Pivotal Roles of Taiwanese Electronics Industry in the Global Electronics Supply Chain: A Case Study of Foxconn and TSMC 6.1 Introduction 6.1.1 Taiwanese Electronics Industry in the Labor-Intensive Supply Chain Segment 6.1.1.1 Putting It All Together: Taiwan’s EMS and ODM Players 6.1.1.2 Across the Strait: The Importance of China to the EMS/ODM Firms 6.1.1.3 The Biggest Company the Average Consumer Has Never Heard of: Foxconn 6.1.2 Taiwanese Firms’ Position in the Capital-Intensive Supply Chain Segment 6.1.2.1 Bits and Bobs: The Role of Electronic Components 6.1.2.2 The Semiconductor Supply Chain 6.1.2.3 Beyond Silicon: Electronic Displays 6.1.2.4 One Firm to Rule Them All: TSMC 6.2 The Case of Foxconn: A Leader in the Labor-Intensive Segment 6.2.1 Foxconn’s Playbook: Scale and Cost Is King 6.2.1.1 Size Matters 6.2.1.2 Right Place at the Right Time 6.2.2 Emerging Challenges and Foxconn’s Strategic Realignment 6.2.2.1 No Way to Go but Up: Rising Costs in China 6.2.2.2 From “Ping Pong Diplomacy” to Viral Blame Game: US–China Trade War 6.2.2.3 From Smartphone to Smarter Devices: Macro Shifts in Demand 6.3 The Case of TSMC: A Leader in the Capital-Intensive Segment 6.3.1 TSMC’s Playbook: Technology Leadership Wins 6.3.1.1 Born in Silicon Valley East 6.3.1.2 Brains and Brawn 6.3.1.3 No “Moore”? 6.3.2 Emerging Challenges and TSMC’s Strategic Realignment 6.3.2.1 A Modern-Day “Arms Race”: US–China Hi-Tech Rivalry 6.3.2.2 Semiconductor Industry in Flux 6.4 Conclusions References Chapter 7: Cross-border Electronic Commerce: The Case of Sake Exports from Japan 7.1 Introduction 7.2 Exporting Sake to International Markets 7.3 Choice of E-Commerce Platforms 7.4 Conclusions References Chapter 8: Emerging Dragons: How Do Chinese Companies Expand Overseas? 8.1 Introduction 8.2 Factors Underlying the Myth of Chinese Companies’ Growth 8.3 Five Overseas Expansion Types of Chinese Companies 8.3.1 Market Dominators 8.3.2 Export Clusters 8.3.3 Technology Innovators 8.3.4 Culture Carriers 8.3.5 Overseas Financial Investment and Supply Chain Integrators 8.4 Pest Challenges and Countermeasures 8.4.1 Political Factors 8.4.2 Economic Factor 8.4.3 Social Factors 8.4.4 Technological Factors 8.5 Conclusion References Chapter 9: Managing Global Expansion in the  K-Pop Industry: Strategic Lessons from YG Entertainment 9.1 Introduction 9.2 Literature Review 9.3 Challenges for K-Pop in Three Key International Markets 9.3.1 Japan 9.3.2 China 9.3.3 United States 9.4 Strategic Lessons from YG Entertainment 9.4.1 Overview of YG Entertainment 9.4.2 Theme 1: Local Adaptation and Leveraging Local Knowledge 9.4.3 Theme 2: Balancing Adaptation and Authenticity 9.4.4 Theme 3: Shifting to Local Production to Mitigate Administrative Distance 9.4.5 Theme 4: Balancing Local Responsiveness and Global Brand Building 9.4.6 Theme 5: Strategic Diversification into Related and Supporting Industries 9.5 Conclusion References Chapter 10: Shanzhai (Mountain Village) Vs. Counterfeit Products in China: Conceptualization, Value Drivers, Business Models, and Solutions 10.1 What Are Shanzhai Products? 10.2 Shanzhai Products Vs. Counterfeits 10.3 Why Do Consumers Choose Shanzhai Products over Counterfeits? 10.4 The Shanzhai Business Model 10.5 Strategies to Combat Shanzhai Products 10.6 Conclusion References Chapter 11: Successful MNC CSR Activities in Asia: A Case Study of Samsung Electro-Mechanics, Thailand Co., LTD. 11.1 Introduction 11.2 Why SEMTHAI? 11.3 Methodology 11.4 Case Analysis 11.4.1 The Recognition of SEMTHAI 11.4.2 The Original Purpose of CSR Activities 11.4.3 The Persistence of CSR Activities 11.4.4 The Moral Capital and Localization of CSR Activities 11.4.5 The Effects of CSR Activities on Employees 11.4.6 Summary 11.5 Discussion 11.5.1 The Power of Moral Capital 11.5.2 The Perceived Authenticity of CSR 11.5.3 CSR for HR 11.6 CSR’s Localization 11.6.1 Limitations 11.7 Conclusion References Part IV: International Business Research and the New Asia Chapter 12: Key Research Trends and New Research Frontiers in International Business (IB) Scholarship: A Focus on the Asia-Pacific Region 12.1 Introduction 12.2 Prior Research on Identification of Research Trends 12.3 Methodological Framework 12.4 Analysis and Findings 12.4.1 Finding 1: Growing Interest in APR-Related Scholarship Across Time and Academic Disciplines 12.4.2 Finding 2: The Main Research Fronts in IB Scholarship Predominantly Use Qualitative Research and Focus on the Role of Culture, Country of Origin, and Complexity of Context 12.4.3 Finding 3: The Main Research Fronts on APR-Related IB Scholarship are Consumer Behavior, National Culture, Emerging Markets, China, EMNEs, State Ownership, Trust, and Non-Market Strategy 12.4.4 Cluster 1 12.4.5 Cluster 2 12.4.6 Cluster 3 12.4.7 Cluster 4 12.4.8 Cluster 5 12.4.9 Cluster 6 12.4.10 Cluster 7 12.4.11 Cluster 8 12.4.12 Cluster 9 12.4.13 Cluster 10 12.4.14 Cluster 11 12.4.15 Finding 4: The Emerging Research Areas in IB on APR are on Diverse Aspects of Doing Business in Emerging Market Contexts 12.5 Future Research Directions Appendix References Index