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Nesa Posted 12 years ago
Business & Finance
I don't get this part!
Hi,
What does the bold part mean?
It is true that outside of Japan (and more recently South Korea) there are few Asian brands that stand out in the global marketplace, but it may just be amatter of time before there are more. Since the economic shocks of the late 1990s, crony capitalism, where who you know matters more than what you do and how well you do it, is on the decline, and deregulation and economic liberalisation are gathering pace. Companies are discovering the need to focus on their core businesses and to develop their competencies.
Regards,
Nesa
What does the bold part mean?
It is true that outside of Japan (and more recently South Korea) there are few Asian brands that stand out in the global marketplace, but it may just be amatter of time before there are more. Since the economic shocks of the late 1990s, crony capitalism, where who you know matters more than what you do and how well you do it, is on the decline, and deregulation and economic liberalisation are gathering pace. Companies are discovering the need to focus on their core businesses and to develop their competencies.
Regards,
Nesa
Top answer
S ince the economic shocks of the late 1990s, crony capitalism, where who you know matters more than what you do and how well you do it, is on the decline, and deregulation and economic liberalisation are gathering pace = Since the bad economic events of 1997-99, doing business only with friends is decreasing and laws for freer commerce are increasing.
- S ince the economic shocks of the late 1990s, crony capitalism, where who you know matters more than what you do and how well you do it, is on the decline, and deregulation and economic liberalisation are gathering pace = Since the bad economic events of 1997-99, doing business only with friends is decreasing and laws for freer commerce are increasing.
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7 Answers
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Since the economic shocks of the late 1990s, crony capitalism, where who you know matters more than what you do and how well you do it, is on the decline, and deregulation and economic liberalisation are gathering pace
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Since the bad economic events of 1997-99, doing business only with friends is decreasing and laws for freer commerce are increasing.
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Since the bad economic events of 1997-99, doing business only with friends is decreasing and laws for freer commerce are increasing.
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Mister Micawberdoing business only with friends is decreasingDo you mean internal business by the word "friends"?
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nesa internal businessI don't know the meaning of that phrase; please tell me.
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Mister MicawberI don't know the meaning of that phrase; please tell me.I mean national and in-house business.
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nesaI mean national and in-house business.Sorry, but those are two very vague terms as well. However, none of those necessarily equate with crony capitalism. Crony capitalism (and I correct my earlier post here) is close relationships between business and government, which leads to favoritism. Read more here:
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Thank you very much. The link really helped and the phrase particularly was about those Asian events.
I get it now.
I get it now.
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