ENTREPRENEURSHIP AND INNOVATION IN ASIA

• China _ tradition of entrepreneurship but little innovation; high growth but majority will come from large state-owned or affiliated enterprises _ little in between small and large enterprises

• Taiwan, Hong Kong _ continuing entrepreneurship and innovation but very competitive, impacted market with attendant high costs; launch pads for ‰gGreater China‰h

• Japan and Korea _ relatively low entrepreneurial activity due to stigma attached to failure; focus on restructuring and buyout opportunities, including spin-offs of non-core assets by keiretsu and chaebol; control strategy

• ASEAN _ markets are unattractive at current time, political and economic upheaval driving investment away

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