Ethics in Developing Economies of Asia

Abstract:

This essay aims to deepen our comprehension of the economic ethics of different peoples in Asia, as well as realizing a degree of cultural relativism, in order to enhance amicable economic associations. It counterbalances the conventionally strong West-oriented views which regard exotic features of non-Western economies as backward and illogical elements that disturb smooth and orthodox development and, hence, should be eradicated. The author, first, recalls a number of facts which depict the eruptive economic transformation in Asia. He, then, criticizes the imposition of Western-style development and exploitation without excluding Japan’s colonialism in Taiwan and Korea, and pleads for multiple forms of development and modernity. Economic transactions should be analysed in relation to sociocultural aspects, and, therefore, communities and ethics groups play a substantive role between the public and private sectors, the market, and individuals. For instance, small farmers in Southeast Asia, struggling with the weakness of tenant farmers and pressures of the market mechanism, developed ingenious and participatory forms of survival, increasingly supported by non-governmental organizations. Case studies from Thailand, Malaysia, and the Philippines give a vivid picture of these activities. Because the developing economies are composed of market and non-market sectors, reasonable attention should be given to the ethics beyond market principles, with particular emphasis on community as foundation.