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Published August 2007
Asia's rapid economic turnaround since the 1997 financial crisis had given global investors reasons for optimism.
Indeed, the change has been remarkable — in 2007, developing Asian economies are expected to grow 7.6 percent, with China and India leading the growth with 10 percent and 8 percent, respectively. The Southeast Asian region is likely to grow at an average rate of 5.6 percent.
With global investors refocusing their attention on Asia, the issue of cultural differences has once again emerged as a critical factor in operating in the region.
Emerging Asian Cultural Trends
Greater Emphasis on Individual Rights
Although many Asians still value group harmony and consensus, there is now a greater awareness and emphasis on individual rights. Many younger Asians have begun to view individual rights and happiness as more important than fulfilling obligatory duties associated with the family or the group.
Among younger Asians in the more affluent parts of Asia, "discovering" yourself by traveling overseas has become increasingly popular. Many also prefer to follow their dreams and pursue vocations considered unconventional by the older generations — it is not unheard of to hear of Asian youths taking off months and years to teach or volunteer in rural parts of the region.
Stronger Focus on Quality of Life
As Asia becomes increasingly urbanized and prosperous, many Asians have begun to demand a better quality of life. Although many Asians still work longer hours as compared with their American or European counterparts, there is now a gradual trend toward a shorter workday and an eventual five-day workweek.
In the more affluent parts of Asia, overseas holidays have become a norm for many middle-class families. Additionally, many urban residents increasingly are concerned about the quality of their living environments — they have become vocal about air pollution, the safety of their drinking water and food supplies and the provision of quality health care services.
Greater Willingness to Speak Their Minds
Although Asians generally are not as assertive and forthright as their Western counterparts, many younger Asians have become increasingly vocal in speaking their minds. Many are still mindful of values such as seniority, hierarchy and respect for their elders, but in cases where these values are not challenged or compromised, younger Asians have made themselves heard.
Cultural Traits
Despite some perceptible changes in Asian cultural traits, several other elements remain unchanged. These include the concept of "face," the emphasis on harmony and the avoidance of outright conflicts. Other constant Asian cultural traits include status symbols, group orientation, hierarchy and the importance of human relations.
The "face" concept is especially important, as Asians are taught from a young age that they should not disgrace themselves or their family. During the Japanese banking collapse in the 1980s, some bankers chose to commit suicide so as to atone for shame they brought to their families.