The Growth of Business in Asia

The rapid growth in manufacturing and trade in Asia has lead to the rise of domestic companies with ..... Asia Pacific operations in addition to sales in Europe and the US.

Many larger Asian companies, namely Chinese, Indian, Japanese, Korean and Taiwanese conglomerates, have become global ..... names.

On the other hand, there has also been a surge in foreign direct investment in Asia from European and US multinational companies, as they ..... in joint-venture arrangements with Asian firms to access local markets.

India's R&D industry continues to expand ....., confirming India's dominance in the software, technology and business process outsourcing (BPO) arena and expects to control 51% of the global outsourcing market for software and back-office services by 2008.

Meanwhile, China ..... in comparison with only 4.9% of the outsourcing market.

The ..... of China's regulations drive many foreign businesses to base their regional treasuries in Singapore or Hong Kong, while Malaysia and China are looking to attract companies to set up onshore SSCs.

Interaction with local banks in Asia is unavoidable, but some local banks are not able to send Swift messages such as the MT940 or the MT942 and this can make it difficult to obtain good ..... of cash flows and account balances.

However, this is becoming increasingly rare as local Asian banks are rapidly adopting foreign bank standards; especially, with foreign banks buying into local banks, the transfer of technology is ..... standards, albeit within each country.

Meanwhile, global banks are aggressively ..... their claim in the Asian financial markets; they are lobbying for central banks to introduce standardised regulations.

According to Clinton Lee, regional advisor and director at ABN AMRO's Transaction Banking, a common ..... among most Asian countries is their absorption rate of newer technologies to accelerate the pace of organisational change.