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Forbes Asia

Forbes Asia October 2017

Forbes Asia chronicles entrepreneurs, executives and companies throughout Asia.

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United States
Forbes Media LLC
13 Issues

in this issue

2 min.
problematic pakistan

Two fateful Islamist uprisings shook the world in the late 1970s. The more recognized one was led by Ayatollah Khomeini in Iran. The other was General Zia-ul- Haq’s coup d’état in Pakistan, which turned the long creep away from the country’s secular origins into a gallop. During Zia’s reign, Pakistan’s nuclearbomb aims were realized, and the world has been an edgier place since. Today it’s as hard as ever to gauge Pakistani progress toward being a modern, peaceable state. The timeless animosity with Hindu India shows little abeyance, aggravated as always by the handling of Kashmir and no doubt fueled by the rise of fundamentalists in Indian politics. Superpower relations continue their historical influence: The U.S., weary of Islamabad’s perceived duplicities (exemplified by the quartering of Osama bin Laden), has snubbed…

1 min.
readers say

CONVERSATION OUR STORY about Fab 50 pharma company Yunnan Baiyao (“The Picture of Health,” September, p. 23) prompted “Melanie” to post: “I am happy to hear that YNBY Corp is doing well. I believe that Yunnan Baiyao powder is extremely effective, has many applications and should be readily available in the U.S. Unfortunately, the FDA sees differently. I’d love to see someone do a story on all traditional Chinese medicines that actually work yet have to be labeled as a ‘dietary supplement’ in the U.S.” In its Web posting headlined “Innovators, Rebels and Rogues,” Esquire Philippines had a mildly dark tone when analyzing the young members of our Philippines 50 list (p. 74), who owed their wealth to “ hard work, some smarts, luck—and a little bit of cunning.” THE INTEREST GRAPH Our…

8 min.
why is the key to prosperity ignored?

HERE’S A BOOK for the ages. With Gold: The Final Standard (CreateSpace Publishing, $14.99)—and his two previous volumes1— Nathan Lewis has established himself as one of history’s most formidable and correctthinking economic writers, joining the ranks of Friedrich von Hayek, Ludwig von Mises, Henry Hazlitt and a handful of others. Lewis understands the subject of money better than almost any other observer today, demolishing one harmful myth after another that plagues economic policy and has shackled the U.S. and most of the rest of the world with subpar growth. The key to unlocking a great boom (along with a low-tax regime) is stable currencies. Without sound money we will be hurt by more dangerous and unnecessary crises à la 2008–2009 and subsequent limp recoveries, which are slowly eating away at the…

7 min.
beyond the i.t. adversity

The accelerating shift to cloudbased IT, greater adoption of automation and the Trump administration’s stance on immigration have combined to make the future of IT outsourcing providers in India uncertain. Companies such as Tata Consultancy Services, Infosys and Wipro are attempting to rapidly enhance their high-level business-consulting repertoire, build AI-based tech solutions and add thousands of local recruits in America, their biggest market. This is an unprecedented cultural shift as well, for all these companies. At their U.S.-headquartered but largely India-based competitor, Cognizant Technology Solutions, CEO Francisco D’Souza, 49, is pushing the Nasdaq-listed Teaneck, New Jersey, company headlong into change, including the $2.7 billion acquisition of TriZetto Corp., made two years ago. That has helped Cognizant’s health care unit impact 160 million Americans, D’Souza says in an interview. The overarching plan…

6 min.
‘banking is exciting’

When a husband-and-wife team took over KBZ Bank in remote northern Myanmar in 1996, it had all the trappings of a mom-and-pop operation. She was a local schoolteacher. He also had been a teacher, then he switched to tutoring before going into trading and mining. Today two of their daughters help run things, and it’s still entirely owned by the family. But looks can be deceiving. Aung Ko Win and wife Nan Than Htwe have built KBZ into by far the biggest bank and one of the largest companies in the country. KBZ Group boasts two airlines, Air KBZ and Myanmar Airways International, and holds stakes in the agriculture, real estate and tourism industries. The two sent the daughters overseas for management degrees and this year brought in a professional chief…

3 min.
lawrence ho’s wager

Billionaire Macau casino magnate Lawrence Ho declares Japan’s nascent gaming industry to be “the most exciting market,” as the world’s biggest operators prepare to table their bids for a lucrative license. This follows his pledge in Tokyo earlier this year “to spend what it takes” to win a stake in a sector that was provisionally legalized only last year and stands to give the country a take rivaling that of Las Vegas. Speaking to Forbes Asia on the sidelines of this year’s Forbes Global CEO Conference in Hong Kong, Ho—the CEO and chairman of Melco Resorts & Entertainment— said his company’s philosophy “is always to deliver the coolest, the most innovative, the highest-quality resorts. I think that blends very well with the philosophy that the Japanese market has.” While the law to…