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The Successful Story and China & Vietnam as Awakening Economic Giants

All of these countries are dramatically influenced by the Confucian heritage that has shaped their cultures. Confucianism has promoted three factors that shape development in a typically Asian manner: 1) Confucianism instills respect for elders and authority figures and helps to maintain the hierarchal business organizations that are found in these countries; 2) Confucianism emphasizes the group or the collective over the individual and bolsters loyalty to the firm and the nation; and 3) Confucianism leads to self-discipline and fosters an orderliness in society that nurtures economic development (Bradshaw and Wallace, 99).

Further, the dragons have a high level of ethnic homogeneity which reduces violent ethnic conflicts and promotes solidarity inside and outside the workplace. The Asian companies themselves in these countries promote loyalty, productivity, and teamwork. Labor unions are rare, pay differentials within an organizational hierarchy are relatively small, and companies enjoy high levels of worker morale. Bradshaw and Wallace (100) state that these reasons, which represent a combination of external and internal factors, explain rapid if late industrialization processes and a uniquely Asian path to success.

Modernization theorists point to Asia as basic confirmation of the argument that capitalist economies prevail, technological innovation and education are drivers of economic development, and Western foreign and/or capital investment contribute to economic growth (Bradshaw and Wa

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The Successful Story and China & Vietnam as Awakening Economic Giants. (2000, January 01). In LotsofEssays.com. Retrieved 06:37, October 31, 2014, from http://www.collegetermpapers.com/viewpaper/1304190612.html
 
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