East Asian Culture, Governance and Economic Growth

The economic dynamism of East Asia was evident in astonishing growth rates in the early decades of development.  Much of the success of countries like China, Korea, Japan and Singapore has been attributed to governance cultures influenced by Confucianism and strong centralised governance structures.  With the eastward spread of Western liberalism and business school management ideologies, can these paradigms of governance endure?  Should they? 
 
Some clues to these questions may be found in current soul-searching by some of these countries. China is trying belatedly to reinvigorate Confucianism; many of Korea’s autocratic chaebols like Samsung have fallen from grace; and Singapore wonders about the survival of her founding Prime Minister’s governance legacy.
 
Prof Hong Hai currently teaches an MBA course on East Asian Cultures and management at NTU.  A life-long learner, he holds graduate degrees in Economics, Philosophy, Chinese literature and Chinese medicine. 

MEET THE SPEAKER

Prof Hong Hai began his career with the Economic Development Board before graduate studies in economics and management.  After teaching at business schools in Chicago and Singapore, he had a 22-year career in business before retiring as CEO of Haw Par Corporation and returning to academia as Professor and Dean of NTU’s business school.  Over the years, he has embraced lifelong learning, completing graduate degrees in Philosophy, Chinese literature, and Chinese medicine. He currently teaches an MBA course on East Asian cultures and management at NTU.  Prof Hong has served in the Singapore Parliament, and was chairman of the Select Committee for Land Transport that proposed the vehicle quota (COE) system.