chapter  9
37 Pages

East-Asian and Anglo-American business systems

ByRichard Whitley

These different types of capitalism reflect variations in processes of industrialization - which in turn partly reflect differences in the nature of pre-industrial Japan, Korea and China - and continuing differences in the nature of dominant institutions in these societies. The ways in which the political, financial and labour systems have developed during the twentieth century vary considerably across East Asia and have led to contrasting kinds of firms and market relations becoming established. Continuing differences between these societies mean that these contrasts will remain significant despite the growing interdependence of their economies and firms.