Forbes Asia March 2018

Forbes Asia chronicles entrepreneurs, executives and companies throughout Asia.

País:
United States
Idioma:
English
Editor:
Forbes Media LLC
Periodicidad:
Monthly
USD 8
USD 79.99
13 Números

en este número

2 min.
man and memoir

I’ve been at Forbes long enough to remember when Billionaires was a much shorter list. There were ten-digit types, of course, and not just the Old World fortunes and Japanese real estate windfalls. But it took special initiative to gain access to them for what was then just an American magazine audience. That’s what our colleague for many years, Andrew Tanzer, did most notably in the case of Robert Kuok. As this July 1997 cover displays, he introduced many readers to a man whose rise was a classic story in 20th-century Asia: Chinese migration, commodities trading, conglomerate building. Tanzer has moved on from workaday reporting but could not leave a good story. From 100 hours of interviews in a collaboration of 14 interrupted years, he helped Kuok produce a memoir that has taken…

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1 min.
conversation

THE MEMBERS OF our list of Hong Kong’s 50 richest (January/February, p. 58) gained an astounding $60 billion from the year before. With massive gains like that, it’s inevitable that some folks will miss the cut. Coconuts.com was less than sympathetic to those who didn’t make our list: “Property developer Lo Siu-tong, commodities trader and shipper Harindarpal Banga, and casino tycoon Cui Lijie, whose Saipan casino has run into trouble, fell off the list after failing to meet the US$1.25 billion cutoff. Poor them.” @VancouverQuake tweeted about Hong Kong’s richest man, Li Ka-shing: “Shame he don’t give it back to Hong Kong by making home prices cheaper.” THE INTEREST GRAPH Was the Philadelphia Eagles’ stunning Super Bowl victory inspired by our cheesesteak story?:…

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5 min.
don’t wreck the new boom

“With all thy getting, get understanding” TWO BIG THINGS threaten the improving U.S. economy: a weak dollar and trade protectionism. Both routinely seduce policymakers, and both always result in bitter aftermaths with terrible political consequences. Yet some in the Trump administration are playing with both—and with fire. • The dollar. Great nations do not have weak currencies. Nonetheless, with a surety born of ignorance, Treasury secretary Steven Mnuchin has bluntly stated his desire for a weak dollar. Thankfully, President Trump immediately contradicted him. But the fact that Mnuchin and his department want to undermine the value of our currency is troubling. Mnuchin has bought into the alluring fallacy that trashing the greenback will help sell more of our stuff overseas, thereby strengthening the U.S. economy. Such false and toxic notions obviously mean the…

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3 min.
the road not taken

THIS BRILLIANT, extremely well-written book about a forgotten figure who was one of the most extraordinary and utterly unorthodox espionage agents in history contains a telling scene that encapsulates what went tragically wrong with the Vietnam War. The operative, Edward Lansdale, was visiting President John F. Kennedy’s defense chief, Robert McNamara. The former president of Ford Motor, McNamara profoundly believed that everything could be managed by numbers (or what we today call “metrics”). McNamara had an IQ that could boil water, a personality that could freeze the tropics and a deep disdain for anyone he considered his intellectual inferior, which was almost everybody. Lansdale was given ten minutes—no more!—to advise McNamara on how the U.S. should deal with the growing communist insurgency in South Vietnam. The allotted time was a…

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4 min.
metallurgy matters

Fueling future generations of electric vehicles is making some mining entrepreneurs rich as demand grows for critical metals, such as lithium and cobalt. But as with all commodity booms, there are early signs of a shortage turning into a flood, with a predictably depressing effect on prices. Lithium is the metal most likely to be hit by a surge in production and a fall in price, especially if demand for electric cars does not match optimistic forecasts. Ironically, it could be a shortage of cobalt that delays the production of the lithium-ion batteries needed to power electric cars and a range of other products, such as smartphones and household appliances. Despite their name, most lithium-ion batteries also require cobalt and graphite to do their job of retaining and discharging electricity, and while…

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4 min.
the nba’s most valuable teams

HIGHEST-EARNING NBA PLAYERS GLOBAL STOCK MARKETS have been tossing and turning, but don’t expect the value of NBA teams to suffer. The average team is worth a record $1.65 billion, 22% over last year, and every team is worth at least $1 billion for the first time. Franchise values have tripled over the past five years. Credit the league’s economics, particularly its international growth prospects, which are the best of any major U.S. sports league. “The NBA is extremely well positioned for international growth,” says Sal Galatioto, president of sports finance and advisory firm Galatioto Sports Partners. “The product is excellent, and interest in basketball around the world continues to flourish.” Take China, where basketball is played by an estimated 300 million people. The NBA signed a five-year deal in 2015 for…

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