A New Set Of Rules

Asia has become the region where business as usual does not apply Macau's casinos overtook Las Vegas as the biggest gambling center in the world five years ago. But lately, the gambling tables in Macau are empty. High-rolling mainland gamblers, once in endless supply, are loath to draw attentio...

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Bibliographic Details
Published in:Global Finance 2014-12, Vol.28 (11), p.20
Main Author: Leander, Tom
Format: Article
Language:English
Subjects:
Automation
Costs
Economic development
Emerging markets
Exports
Manufacturers
Manufacturing
Productivity
Supply chains
Value chain
Wages & salaries
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Summary:Asia has become the region where business as usual does not apply Macau's casinos overtook Las Vegas as the biggest gambling center in the world five years ago. But lately, the gambling tables in Macau are empty. High-rolling mainland gamblers, once in endless supply, are loath to draw attention to themselves as China's anticorruption campaign plays out. Less money is flowing from China generally. Manufacturing in general is showing signs of structural change in Asia's emerging markets. Hong Kong-based HSBC economist Izumi Devalier recognizes that slowing export growth from Asia has much to do with lower demand generally in Europe and the US since 2008. Changes in manufacturing globally are interrupting the progress of the "flying-crane formation" of national manufacturing development in Asia. This is a metaphor commonly used to describe how nations have progressed up the value chain.
ISSN:0896-4181