Out of the mouths of babes: Business ethics and youths in Asia

The Asian economic crisis which began in July 1997 has led to many discussions regarding its genesis (e.g., Asian Development Outlook, 1998; Fischer, 1998). A frequently mentioned cause of the crisis is the lack of transparency in Asia. Rather than arms-length transactions between independent parties, many commercial negotiations in the region are believed to be tinted with and tainted by political and other vested interests (Asian Development Outlook, 1998; The Straits Times, 1998). Indeed, allegations of nepotism, corruption, crony capitalism, and collusion may have contributed to the downfall of Asian governments in Japan, Thailand, and Indonesia.

Besides strengthening their banking and financial sectors to address the crisis, Asian economies have been urged to do business in a cleaner and more ethical manner with better corporate governance (The Straits Times, 1998). Towards this end, present and potential businesspeople and executives in Asia must be favorably predisposed towa...