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Forbes Asia

Forbes Asia March 2019

Forbes Asia chronicles entrepreneurs, executives and companies throughout Asia.

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País:
United States
Idioma:
English
Editor:
Forbes Media LLC
Periodicidad:
Monthly
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13 Números

en este número

2 min.
wealth creation

Of the various Forbes franchises, few are as iconic as the annual Billionaires list. It is a list that has from the start been truly global, cutting across industries, countries and societies—the only ticket to admission is having a personal net worth of US$1 billion or above. This year, the U.S. no longer dominates as the place with the most billionaires, as Asia has now risen to be home (collectively) to the largest group of billionaires on the planet. Asia’s rise is a testament to the success of the principles espoused by Forbes for over a century, such as free markets, low taxes, access to capital, just legal systems, and the bare minimum of regulation to ensure a level playing field. The final ingredient: entrepreneurs, of which there is no…

5 min.
why britain stays ungreat

IF THERE WERE an award for comedic incompetence in statecraft, Britain would win, hands down. The Sceptred Isle has thoroughly botched Brexit since the referendum took place in June 2016. The country’s economy today is at a virtual standstill, and how the divorce with the EU will unfold remains a mystery. The ruling conservative government has been so inept that the inconceivable could happen: The anti-American, anti-Semitic, malignant Marxist leader of the Labour Party, Jeremy Corbyn, might become the next prime minister. (Seven Labour members of Parliament recently quit the party because of his venomous views.) The country had an opportunity to shape itself as a global economic powerhouse, combining the best of Switzerland, Hong Kong and Singapore. The soaring success this would have engendered would have had EU countries hankering…

2 min.
restaurants: go, consider, stop

• Leonti 103 West 77th St. (Tel.: 212-362-3800) Every part of Chef Adam Leonti’s restaurant blends together to offer a memorable evening. Each course hits a high mark. The amazing breads are made from flour milled on the premises (the same is true with the flour in the pastas and the desserts). Try the Diver scallops, the Roman artichoke lasagna, the cinnamon-scented fettuccine tossed with wild boar ragu or the turbot al forno (a delicately cooked fish). The cheese course is an array of unusual Italian choices. Desserts are mandatory, particularly the tiered tower of petits fours. • Silos Baking Co. 601 Webster Ave., Waco, Texas (Tel.: 254-235-0603) Joanna Gaines has surpassed herself at her jewel box of a bakery at her Magnolia Market in Waco. The cookies are divine, the cinnamon buns an aromatic…

3 min.
made in china 2025 will fail without global companies

Made in China 2025, or “MIC2025,” is Chinese President Xi Jinping’s ambitious program to upgrade China’s industrial and technological capabilities to be among the best in the world. It is also U.S. President Donald Trump’s real target in the ebbing and flowing trade war between his country and China. Trump sees MIC2025 as a strategic threat. In challenging China, the Trump administration is supported by many global companies, including many outside the U.S., as MIC2025 has quantitative targets that specify how fast local companies should replace imports with domestic production. These targets will squeeze global companies’ market shares in China. No surprise that global companies are on Trump’s side. China’s targets resemble the worst of central planning and are unworkable. The share of domestic production of semiconductors, for example, fell in…

4 min.
caffeinating china

Bathed in the warm tropical sunlight of Bali, dancers sway to the sensual chimes of the gamelan at the January opening of a special Starbucks Dewata Coffee Sanctuary on the resort island. In attendance are dignitaries and VIPs draped in their finest batik shirts, including Starbucks CEO Kevin Johnson. The outlet is the largest in Southeast Asia, at 20,000 square feet, and one of only 185 Starbucks Reserve bars around the world, out of 29,000 stores worldwide. “Welcome to the Starbucks Reserve Dewata, it’s a pleasure to be here,” declares Johnson to the crowd, inviting them to explore the new store, which includes a small, but working, coffee plantation on the premises. Johnson flew 8,000 miles from the Starbucks headquarters in Seattle to attend the ceremony in good part because Asia…

2 min.
luckin’s venti ambitions

FOUNDED IN OCTOBER 2017 by Chinese entrepreneur Jenny Qian Zhiya, Luckin Coffee has come a long way in a short time to challenge Starbucks’ dominance of the coffee beverage market in China. Luckin is the first large-scale threat to Starbucks’ coffee franchise built over two decades. While Starbucks in recent years has been moving more high-end, as shown in the Bali outlet it just opened, Luckin is taking almost the opposite approach in China. Instead of spacious lounges that allow coffee drinkers to linger, Luckin focuses on efficient “delivery kitchens” that pump out coffee fixes to people on the go. Smaller stores mean Luckin pays less on rent, a savings it can pass on to customers, to whom it gives one free cup of coffee for every two they buy. The…