Interlocking Global Business Systems: The Restructuring of Industries, Economies and Capital Markets

The speed with which business has become globally integrated is impressive and almost frightening. Much of this change has come from the Pacific Basin. At the same time, however, the Taiwanese, Chinese and Southeast Asians have also suffered from these rapid changes. The paranoia associated with rapidly escalating rates of foreign investment in China by a small country like Taiwan, for example, may provide an index of the anxiety that such change can engender. The studies in this collection of research articles provide a considered, rational approach to some of these changing patterns of world business—economic growth, regional trade, foreign direct investment, capital markets, and trade restrictions. The patterns of changing interlocking global business systems revealed in these articles are fascinating and reassuring. It is interesting and enlightening to see how these Asian business systems interlock where the parallel political systems may be in conflict.

Table of Contents:
Introduction Regional Trade and Investment A Time Series Perspective on the Endogenous Growth Model: NIEs, and ASEAN's Experience by Xinpeng Xu Diversifying Taiwan's Economic Ties Toward Southeast Asia and Away from Mainland China An Early Appraisal of the "Go South" Strategy by Peter J. Morton A Global Business and Economic Interdependence between the United States and the European Union by Ioannis N. Kallianiotis Asian Businesses and the European Union: Strategies to Meet the Challenges Aheadd by Nabil A. Ibrahim and John P. Angelidis Internationalizing Capital Markets Merging But Different, Emerging Markets Persist by Edward D. Flowers Pricing U.S. Exchange-Traded Hong Kong Index Warrants by K.C. Chen Accounting and Taxation of Stock Options in Korea by Chang-Soo Kim The Shortage of Financial Skills in China by Laura Nowak and Kurt Dew International Financial Operations Exchange Rates and the Operating Income Performance of Foreign-Based Multinational Corporations by Laurence J. Mauer Money Laundering with a Focus on Banking and Finance by Teresa de Los Rios and Edward B. Flowers The Diverse World of Local Economics and Finance Sources of Funds for Taiwanese Investments in Mainland China and Southeast Asia by Ya-Hwei Yang, Yenpao Chen and Ying-Yi Tu Entrepreneurship Development in Small- and Medium-Sized Enterprises by Anna Ai-Ai Kuo and Wuu-Long Lin The Impact of Housing Characteristics on Real Estate Values: An Empirical Study in Taiwan, ROC by Jane C. Sung and Jason J. Lin International Trade and Trade Restrictions Quality, Complementarity and Prices in Japanese Pentration of the U.S. Automobile Market by Chyi-Ing Lin, Jer-Shiou Chiou and Ben-Chieh Liu Application of the Antidumping Laws in Latin America: A Review of Recent Cases and Prospects for the Future by Robert W. McGee Index

About the Author :
EDWARD B. FLOWERS is Associate Professor, Department of Economics and Finance, College of Business Administration, St. John's University, and author of U.S. Utility Mergers and the Restructuring of the New Global Power Industry (Quorum Books, 1998). THOMAS P. CHEN is Associate Professor, Department of Economics and Finance, College of Business Administration, St. John's University. JONCHI SHYU is Director of the Graduate School of International Business Administration of the Chinese Culture University in Taipei, Taiwan.