Specific of international business development in East Asia on the example of China, Japan and South Korea

Gvasalia K.

East Asia is considered the most developed region of Asia in terms of economy and business. The three largest countries, China, Japan, and South Korea, account for one-fourth of the world’s production of goods and services. These States represent a “Golden economic triangle”, and their combined trade surplus is approximately $400 billion per year. Thus, development of East Asia has a significant impact on development of the world economy as a whole. The article gives a detailed analysis of the region’s 3 largest countries: China, Japan and South Korea; the role of East Asian countries in international business; identified specific features of business practices in Asia and recommendations for foreign businessmen cooperating with the region.

Keywords:East Asia, international business, Chinese business, Korean business, Japanese business, world economy, world economic relations, Asian specifics of doing business.