The New Asia: Corporate Challenges and Leadership Development

Abstract

The financial crisis that erupted in 2008 exerts a lingering negative effect on the world economy, especially in the Western world. The US is recovering, but more slowly than most would like. Europe confronts a difficult sovereign debt crisis that threatens its monetary union. In the aftermath of the crisis, banks in both the US and EU are tightening credit, often citing capital structure ratio rules as the reason. In both the US and the EU, governments try to muster political will to impose fiscal disciplines, while also trying to deal with persistent high unemployment. Uncertainties about fiscal and monetary policies, and the recovery in general, make corporations hesitate to invest; and real investment remains very low.