Asia Pacific Business Essay Example | Topics and Well Written Essays - 2750 words

Asia Pacific Business - Essay Example Similarly, China had also begun showing its hyper-growth during the late 70s. According to a report published by The World Bank (2009), it had been observed that the economic performance of Japan and China are even better than that of their complementary countries such as the United States of America and other European countries. In order to recognize the characteristics of business systems currently practiced in Japan and China, it is essential to understand the concept of business system beforehand. Apart from this, culture is also regarded as one of the most crucial factors, which influences business systems directly, as an effective impact can be observed on the economy too. Moreover, internalization has also changed the nature of business systems for more than a couple of decades (Yeung, 2000). In accordance with Padmalingam (2000), Japan and China both share a substantial percentage of similarities that is identifiable in terms of their cultures and social systems particularly owing to their geographical positioning. As a result, over the years, these countries have developed similar characteristics in terms of religion, culture and national identity (Padmalingam, 2002). Besides, it has also been observed that both the countries share almost similar value systems, which have influenced each other on several occasions, quite apparently. However, a critical analysis of the phenomenon revealed that both the countries, i.e. China and Japan, on their path of development, have come to follow two completely separate modern civilizations in order to develop economic policies, especially in the post World War II period. These variances can be framed with the help of different business cultures and varied patterns of economic systems. During the transition period of the post war ec onomic system, it has also been observed that the governmental authorities in Japan and China had a commanding role in order to support the growth of domestic firms