Faced with the theoretical problem of a fire that had destroyed a shop, Singaporeans were almost twice as likely as Australians to suggest turning to relatives for assistance rather than borrowing money on their own. HT-T conclude their book with some criticisms of the UK and the USA which may also apply to Australia. There seems to be a tendency in English speaking countries to follow the highest returns. The orientation to earn the highest profit makes such cultures reluctant to cut prices to stay competitive. The emerging cultures of East Asia, such as Japan and Singapore, seem to be more willing to seek a long term strategy which emphasizes learning and knowledge over the highest short term gain.
Companies are often worth more when sold off in bits and pieces.
However, the net result of disaggregation and disintegration in the USA, UK and perhaps Australia has been the perpetuation of damaged morale and economic underperformance which, in turn, leads to chronic underinvestment. All rights reserved.