Bradley Associates China

Bradley Associates China

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  • THERE HAS BEEN much talk about how rapid growth markets (RGMs) are expected to be the drivers of the global economy over the next decade. RGMs are countries that emerged from the 2008 recession with minimum damage and which project significant growth. They include a number of economies from the Asia Pacific region. While this is certainly cause for cautious optimism, it also raises the concern that the pressure for these markets to generate growth may also increase the risk of fraud, bribery, and corruption.

    The Ernst & Young Asia Pacific Fraud Survey Report 2013, released just last Sept. 26, indicates that while many companies in the region have created, or are in the process of creating, policies and procedures to deal with fraud, bribery and corruption, there is often a disconnect in the local application of, and compliance with, these policies. The report surveyed top executives from Australia and New Zealand, China, Indonesia, Malaysia, Singapore, South Korea and Vietnam. While the Philippines was not included in the survey, there are many important lessons that local executives can glean from the report. It complements government’s current anti-corruption stance and a similar drive in the private sector for more transparency and integrity in dealing with government.

    Here are some of the key perceptions presented in the recent fraud survey report:

    Analysts are beginning to see a slowdown in Asia Pacific economies. Companies are starting to face budget restrictio...

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    FRANKFURT — The newly named chief executive of Siemens has promised to restore stability to the company that symbolizes German engineering and electronics prowess. But he also issued a warning that could bode ill for the euro zone economy: Don’t count on China.

    Only hours after his predecessor was toppled because of operational problems and declining profit at the German industrial giant, Joe Kaeser, a Siemens insider promoted to the top job on Wednesday, warned that China could take longer than expected to resume its rapid growth. China is a crucial market for Siemens and hundreds of other European companies, and a continued slowdown there could delay recovery of the euro zone.

    “The economic reorientation of China will take time,” Mr. Kaeser said at a news conference at Siemens headquarters in Munich.

    The comments by Mr. Kaeser, who has worked at Siemens since 1980 and previously was chief financial officer, came only hours after the Siemens supervisory board named him to replace Peter Löscher, who took the blame for the mixed financial results also announced Wednesday.

    The faltering Chinese economy has become a major concern for Europe and especially Germany. While Germany’s most important trading partners remain the United States and other European countries, demand from China and other developing nations has in recent years grown much faster and has compensated for weakness in the traditional markets.

    “Given Germany’s higher dependence on the emerg...

Bradley Associates Post Code BA 34911414218: New Siemens Chief Sees Weakness in China

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