THE Asian way of business based on the extended family and tight personal ties which have served Chinese entrepreneurs so well in the past, are unlikely to serve East and South-East Asia as well in the future, chairman and chief executive officer of LIN Associates Tan Sri Dr Lin See Yan said.
Lin, a former Bank Negara deputy governor, said the Asian financial crisis revealed the full extent of the weaknesses of the financial systems that arose under this kind of environment, as and when they opened up, were far too weak to withstand or moderate the kinds of rulings on non-performing loans and capital movements that characterise the new financial order.
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