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[03-13] [Economist-简报]Business in South-East Asia 东南亚的商业：喑哑的亚洲虎
Business in South-East Asia
东南亚的商业
The tigers that lost their roar
喑哑的亚洲虎
Feb 28th 2008 | BANGKOK AND KUALA LUMPUR
From The Economist print edition
Other emerging economies are producing world-class companies by the dozen. Why aren't the countries of South-East Asia?
其它新兴经济体正在成打成打地产生世界级的公司，为什么东南亚国家不是这样？
Illustration by James Fryer
IT IS easy to forget, now that China and India are all the rage, thatuntil ten years ago South-East Asia was the world's fastest-developingregion, winning the sort of investor attention and breathless columninches that the two new giants now enjoy. The region has, slowly,recovered from the blight of 1997-98. It has recently had several yearsof strong growth (see chart 1) and its governments' finances have beengreatly improved. Even so, after all this time the region's five maineconomies—Indonesia, Malaysia, the Philippines, Singapore andThailand—are still notable for the near-absence of companies that couldtruly be called world-class.
鉴于中国和印度风头正健，人们很容易忘记直到十年以前东南亚都是世界上发展最快的地区，赢得了各类投资者的注意力和铺天盖地的新闻版面，如今这两样东西由两位新巨人享有。该地区已经慢慢从1997－98年的打击中恢复过来，最近几年都有着强劲的增长（见图1），并且其政府财政有了极大的改观。尽管如此，该地区的五个主要经济体——印度尼西亚、马来西亚、菲律宾、新加坡和泰国——仍然几乎没有能够称得上世界级的公司。
The region has 570m people and had a head start in economic developmentover much of the rest of Asia. So why does it still have no globalconsumer brands of the stature of South Korea's Samsung and LG? Whereare its rising technology leaders, like Taiwan's AU Optronics andTaiwan Semiconductor? Where are its equivalents of India'sworld-conquering Tata Steel, Ranbaxy and Wipro? Or China'smarket-devouring Huawei and Lenovo? Ask an investor in London or NewYork to name globally respected South-East Asian firms and the answeris unlikely to consist of much more than Singapore Airlines.
该地区有5亿7千万人，与亚洲的其余国家相比拥有经济发展上的领先优势。那为什么它没有像韩国三星和LG那样的全球消费品牌呢？它们的技术领先者，像台湾的友达光电（AU Optronics）和台积电（Taiwan Semiconductor）在哪里呢？像印度的征服世界的塔塔钢铁（TataSteel），Ranbaxy和Wipro在哪里呢？像中国的吞噬市场的华为（Huawei）和联想（Lenovo）又在哪里呢？问一位伦敦或纽约的投资者，要其举出一个全球敬仰的东南亚公司，那么答案除了新加坡航空（Singapore Airlines）之外不大可能有更多了。
In a recent book, “Asian Godfathers”, Joe Studwell, a journalist,examines this failure in stark terms. The region's business scene, hesays, remains dominated by old-fashioned, mediocre, sprawlingconglomerates, run at the whims of ageing patriarchal owners. Thesefirms' core competence, such as it is, is exploiting their cosyconnections with governing elites. Their profits come fromrent-seeking: being handed generous state contracts and concessions, orusing their sway with officialdom to keep potential competitors out. Ifthey need technology, they buy it from abroad. As a result, Mr Studwellsays, the region has “no indigenous, large-scale companies producingworld-class products and services.”
新闻记者JoeStudwell在最近的一本书《亚洲教父》中，用直白的语言考察了这个失败。他说，该地区的经济舞台仍由旧式、平庸、四处扩张的大联合企业占据着，这些企业被正在老去的族长式所有者随心所欲地经营着。这些公司最拿手的，尽管不咋的，就是利用它们与统治精英的亲密关系。他们的利润来自于寻租：被给予慷慨的国家合同和特许，或利用他们对官员们的影响力来将潜在的竞争者排除在外。如果他们需要技术，他们就从国外买。结果，Studwell先生说，该地区没有“源于本地的、规模大的公司生产世界级的产品和服务”。
Similar things were once said of much of the rest of Asia—and sometimesstill are. But somehow other countries' top businesses, even in India,the home of the licence Raj, have escaped this mediocrity trap. Whereasthe export-led growth of South Korea and Taiwan comes mainly fromindigenous firms making globally competitive goods with their owntechnology, much of South-East Asia's high-value exports are made byforeign companies. Thailand has built a successful motor industry byattracting multinationals. But it will constantly suffer the risk thatthese will move to somewhere like China, with lower costs and a biggerhome market.
类似的事情也曾在亚洲的其它地方出现过——并且有时仍是这样。但是其它国家的顶级公司，甚至在印度，“许可证制度”的老家，都已逃脱了这个平庸的陷阱。当韩国和台湾的出口增长主要来自于本地公司使用他们自己的技术生产具有全球竞争力的商品时，许多东南亚的高价值出口是由外国公司制造的。泰国通过吸引跨国公司建立了一个成功的汽车产业。但是它一直存在这样的风险：这些公司将来可能搬迁到其它成本更低和国内市场更大的地方，比如中国。
Look under the bonnet of what seems to be a well managed, localindustrial firm in South-East Asia, such as Astra, an Indonesiancarmaker, and you find that it is assembling Japanese cars underlicence and is controlled by a Hong Kong group. Not many have got farbeyond serving the home market. A recent study by the Boston ConsultingGroup (BCG) of the 100 largest multinationals from emerging economies(a category that excludes Singapore) contained only five from the wholeregion. By contrast there were 13 just from Brazil, which has only athird of South-East Asia's population and which until about a decadeago had no genuinely global firms to speak of (see chart 2).
看看东南亚一家看起来管理得很好的本地工业公司的背后，比如Astra，一家印度尼西亚汽车制造商，你将发现它经过许可正在组装日本汽车并由一家香港集团控制。没有许多公司能够超越本地市场。最近由波士顿咨询集团（BCG）对来自新兴经济体的100家最大的跨国公司（该分类不包括新加坡）作出的一个研究数据表面，该地区总共只有5家入选。相反巴西有13家，它只有东南亚人口的1/3，而且直到十年前都谈不上有真正的全球公司。
Class distinctions
等级差别
To be counted as world-class, a firm needs to be more than just wellrun and large. It should have a globally valued brand, or its ownleading-edge technology, or a genuinely innovative and admired businessmethod. These are demanding standards: even some of those in BCG's top100 are really just plain big. In South-East Asia few companies meetthem. Some come close, especially in Singapore, the region's mostadvanced country. Singapore Airlines is the world's fourth-largestinternational carrier and is perhaps the region's best-known brandaround the world. Keppel and SembCorp, the world's two largest makersof offshore oil drilling-rigs, dominate their industry.
要想成为世界级，一家公司不仅需要规模很大以及管理很好。它也应该拥有全球性的价值品牌，或它自己的前沿科技，或真正的创新和令人赞赏的商业模式。这些都是需要付出很多努力才能达到的标准：甚至有些处在BCG百强内的公司也仅是规模很大。东南亚很少有公司能达到这些标准。有些有点接近，尤其是新加坡的公司，该地区最发达的国家。新加坡航空（SingaporeAirlines）是世界上第四大国际运输企业，并且可能是该地区最知名的世界品牌。Keppel和SembCorp，两家世界上最大的离岸石油钻井设备生产商，在该行业占据主导地位。
However, some of Singapore's tech stars are showing signs of fading,worries Garry Evans, an equity strategist at HSBC. CharteredSemiconductor and Creative, for example, are slipping behind rivals inplaces like Taiwan, which now has “a critical mass in technology and avery entrepreneurial culture,” he says.
然而，HSBC的一位资产策略家Garry Evans担心，新加坡的一些科技明星正在出现衰退迹象。例如特许半导体（CharteredSemiconductor）和创新（Creative）正在落后于像台湾这些地方的对手，台湾现在拥有“技术上的临界质量（criticalmass）以及非常具有开创精神的文化”，他说。
In banking, the region has some impressive contenders, like Singapore'sOCBC and Malaysia's Public Bank, which are expanding beyond theirborders. But now these must contend with China's huge and increasinglymuscle-flexing banks as well as Western ones with deep roots in theregion, such as HSBC and Standard Chartered. As in other types ofbusiness, the region's local champions lack scale in a world wherecritical mass seems to matter ever more.
银行业方面，该地区有一些重要的竞争者，像新加坡的OCBC和马来西亚的PublicBank，这些银行正在向他们的国境线外扩张。但是这些银行现在必须与中国大型和越来越紧张的银行以及在该地区根基很深的西方银行（例如HSBC和Standard Charted）竞争。就像在其它行业中那样，该地区本地公司的佼佼者缺乏规模，而这个世界中临界质量看来更加重要了。
Admittedly, the region has some natural handicaps. The ten members ofthe Association of South-East Asian Nations (ASEAN) have a huge varietyof languages, religions, political systems and histories. Even the mostpopulous member, Indonesia, with 230m people, is itself enormouslydiverse, being made up of 17,000 islands and a rainbow assortment ofcultural and religious traditions. By comparison, Brazilians may dancethe forró in the north and the samba in the south, but theirs is apretty homogeneous and monolingual country of 190m, all on one landmass.
应该承认，该地区有些自然不利因素。东南亚国家联盟（东盟）的十个成员国有着大量不同的各种语言、宗教、政治体系和历史。甚至其人口最多的成员，印度尼西亚，拥有2亿3千万人口，其本身就拥有巨大的多样化，由17000个岛屿和五花八门的文化以及宗教传统组成。比较之下，巴西人可能在北部跳Forro而在南部跳桑巴，但是这是一个同质和单一语言的国家，拥有1.9亿人口，全都住在一块陆地上。
That said, ASEAN's leaders could do much more to keep their loftypromises of European-style economic integration, to give localcompanies a sizeable home market from which to build world-beatingbusinesses. Their failure to construct a genuine single market is shownup by the fact that ASEAN's members still do three times as much tradewith non-members as they do among themselves. Internal tariffs havebeen cut, but as McKinsey, a management consultancy, noted in a reportin 2004, product standards and other non-tariff barriers often differamong ASEAN countries, forcing manufacturers to make small productionruns for each country.
这就是说，东盟的领导人能够做更多事情来实现其崇高的诺言——实现欧洲那样的经济一体化，来给予当地公司一个相当大的国内市场，从而建立领先世界的公司。他们构建一个真正的单一市场的失败由于这一事实而展露无遗：东盟成员与非成员之间的贸易额仍是其成员之间贸易额的三倍。内部关税已经降下来，但是McKinsey，一位管理咨询顾问，在2004年的一份报告中提到，生产标准和其它非关税的障碍在东盟国家之间通常不同，迫使制造商为每个国家生产很小的批量。
All this lowers the competitiveness of local firms, as well asmultinational companies operating in the region. Corruption is anothergreat burden on business. That is true elsewhere in Asia too, butseveral South-East Asian countries—notably Indonesia—are afflicted bycorrupt and unreliable judicial systems, making it difficult to enforcecontracts.
所有这些降低了本地公司以及在该地区运营的跨国公司的竞争力。腐败是另一种商业重负。在亚洲的其它地方也是如此，但是几个东南亚国家——尤其是印度尼西亚——被腐败和无法信赖的司法体系所困扰，使得它难以执行合同。
Dicing with relegation
冒着降级的风险
Although it is hard to generalise across Asia, another obstacle todeveloping world-class businesses is that the five main South-EastAsian economies do worse than might be expected—that is, relative totheir national incomes—in promoting technology and higher education.Tony Fernandes, the boss of AirAsia, a fast-expanding Malaysian airlineand a contender for the “world-class” label, laments how South Korea,where the government has pumped money into research and training, hasleft his country trailing in so many ways. “We used to beat them atfootball—not now,” he groans.
虽然很难说全亚洲都是这样，另一个发展世界级商业的障碍是：五个主要的东南亚经济体在促进科技和高等教育方面比原本期望的要做得差劲——这是相对于他们的国家收入而言。TonyFernandes，AirAsia，一家高速扩张的马来西亚航空公司和“世界级”的竞争者的老板，悲叹说，在韩国，政府已经注入资金到研发和培训，已经在许多方面将他的国家抛在后面了。“我们曾经在足球上击败过他们——现在不是。”他叹息着说。
Malaysia has also spent heavily on universities and the promotion oftechnology but its efforts have been stymied by the country's messyracial politics (including preferential university places for the Malaymajority) and by the handing of state contracts and concessions toundeserving government cronies. Both the lack of fair competitionbetween businesses and the failure to widen access to education mayhave a common underlying cause: that South-East Asian countries remainin the grip of narrow elites.
马来西亚也已经在大学和促进科技上花费了许多，但是其效果由于该国混乱的种族政策（包括占人口多数的马来人能够优先进入更好的大学）以及政府将国家合同和特许给予不值得的政府密友而受损。公司之间缺乏公平的竞争以及扩大受教育面的失败都可能拥有一个共同的深层原因：东南亚国家仍然控制在一小撮精英手中。
The problem betrays itself not just in the region's relative lack ofmemorable business names but in its basic economic statistics—inparticular, labour productivity, the key to long-term growth.Productivity in China and India is growing much faster than South-EastAsia's is. East Asia overtook the region in output per worker by 2000and has continued to power ahead. Now South Asia is closing the gap(see chart 3). Not even hosting the factories of so many sophisticatedmultinationals seems to have made much difference to South-East Asia.With all those Indian and Chinese pairs of hands joining the globalworkforce, the region has no option but to seek to move beyond simplyoffering low wage costs and produce better-educated workers and moreinnovation.
该问题暴露出来不仅因为该地区相对缺乏能够记得起的商业品牌，也因为它的基本经济统计数据——尤其是劳动生产力，它是长期发展的关键。中国和印度的生产力发展比东南亚国家的要快得多。西亚国家的人均产出在2000年超过了该地区，并且仍在快速增长。现在南亚国家正在缩小差距（见图3）。甚至落户这么多高科技跨国公司也没有使东南亚国家改观。随着印度和中国的劳动力加入全球市场，该地区没有其它选择，必须超越那种简单地提供低工资成本的做法，供应受过更好教育的工人以及更多创新。
It is not all the fault of governments. The region's unwieldyconglomerates could do more to help themselves achieve global scale byconcentrating on fewer businesses. Some are doing so, but others stillseem unable to resist poking their fingers into another pie. Thefood-and-drink arm of Charoen Pokphand, a Thai conglomerate, is inBCG's top 100; but the group is an unspectacular contender inindustries from telecoms to convenience stores and is now moving intocarmaking. San Miguel of the Philippines, a big beer-to-foodconglomerate, recently talked of trying its hand at generatingelectricity. Synergy Drive, the absurdly named merger of threeunderperforming plantation firms controlled by the Malaysiangovernment, is taking a stake in the giant Bakun hydro-dam in Borneo.
这不全是政府的错。该地区笨拙的大联合企业能够通过将精力集中于更少的行业来帮助自己获得全球规模。一些企业正在这么做，但其它的看来仍然无法抑制自己染指其它行业。CharoenPokphand的食品和饮料部门，一家泰国联合企业，位于BCG的百强内；但是该集团在从电信到便利店的行业内是一个不引人注目的竞争者，并且现在正在进入汽车制造业。菲律宾的San Miguel，一家从啤酒到食品的大联合企业，最近谈到自己将涉足电力生产。SynergyDrive，一家名字取得很荒谬的、由三家表现平平的种植园企业合并而成、由马来西亚政府控制的企业，正对Borneo的巨型Bakun水力大坝进行投资。
This dilettantism was once summed up damningly by Michael Porter, ofHarvard Business School: “These companies don't have strategies, theydo deals.” Gerry Ambrose in the Kuala Lumpur office of Aberdeen AssetManagement laments that it is indeed hard to find Malaysian companieswith “a business plan that will last ten years”. Many firms haveimproved their profitability since the 1997-98 crisis but that may notguarantee their long-term survival. Because even the best-run firmsoften have boards and shareholder lists dominated by the foundingfamily and their friends, it is hard to believe that their thinkingwill change.
这种涉猎众多行业的商业模式曾经被哈佛商学院的MichaelPorter认定为是完全错误的：“这些公司没有策略，他们只是做生意。”阿伯丁资产管理公司吉隆坡分部的GerryAmbrose叹息说真的很难发现马来西亚的哪家公司拥有“持续十年的商业计划”。自1997－98年的金融危机以来，许多公司已经提升了他们的盈利性，但是这并不能保证他们的长期生存。因为甚至运行得最好的公司的董事会和股东名单通常都由成立公司的家族和他们的朋友占据着，很难相信他们的想法会有改变。
Of the “godfatherish” firms profiled in Mr Studwell's book, one thatanalysts say is among the best performers is YTL, a Malaysianconglomerate. Big in construction, the firm also owns a British waterfirm, Wessex Water, operates hotels and upmarket shopping malls, runs ahigh-speed rail link from central Kuala Lumpur to the city's airportand owns a chain of power stations. Its founder, Yeoh Tiong Lay, builta giant construction business with state contracts in the country'searly post-independence period. In the 1990s, when his friend MahathirMohamad was prime minister, the firm got concessions to generateelectricity using subsidised gas from the state oil firm, which thestate electricity firm was obliged to buy.
Studwell先生书中描述的“教父式”公司中，分析家们认为表现最好的其中有一家是YTL，一家马来西亚联合企业。在建筑行业规模很大，该公司也拥有一家英国水公司，WessexWater，运营着酒店和高级购物商场，运营着一条联结吉隆坡中部到该市机场的高速铁路，并拥有一系列发电站。它的创建人，Yeoh TiongLay，在该国独立初期获得国家合同建立了一家巨型建筑公司。在1990年代，当他的朋友MahathirMohamad是首相时，该公司获得了使用来自国有石油公司的享受补贴的石油来发电的特别许可，生产出来的电力国有电力公司必须购买。
Nice work if you can get it. But the founder's son, Francis Yeoh, whonow runs the firm, insists that it has not just rested on its laurels.It has delivered, he argues, “a 55% annual compound growth in profits”since the mid-1980s and it now earns 70% of its revenues outsideMalaysia. On February 22nd it declared a profit for the six months toDecember 31st of 688m ringgit ($202m), 24% more than a year before. Thefirm does have a core competence, says Mr Yeoh, which is to build andmaintain infrastructure assets of first-world quality at third-worldprices. Even the group's hotels and shopping malls should be seen as“unregulated infrastructure”, he argues, stretching the point somewhat.
只要能够得到这肯定是份好工作。但是该创立者的儿子，FrancisYeoh，现在由他掌管公司，坚持说公司并不满足于既有的成就而不思进取。他说，公司已经实现从1980年代中期以来“利润55％的年度混合增长”，并且现在其70％的收入来自马来西亚以外。2月22日，它声称六个月（到12月31日）的利润为6.88亿林吉特（2.02亿美元），比一年前多24％。Yeoh先生说，该公司的确拥有一种核心竞争力，这就是以第三世界的价格修建和维护具有第一世界质量的基础设施资产。他说，不太严格的说，甚至该集团的酒店和购物商场也应被视为“非规范的基础设施”。
As Asia continues to grow vertiginously, it will need a lot moreinfrastructure, regulated or not, and YTL, says Mr Yeoh, has shown itcan provide it. In particular, he foresees juicy contracts fromapplying Wessex Water's skills at cleaning up rivers to the continent'smurky waterways. This indeed sounds like a promising growth business.But there will be others—not least some sizeable Chinesewater-treatment firms—which will be after those same contracts. So farWessex Water is making decent profits in western England, but itspotential to become a global leader is untested.
当亚洲继续保持令人眩晕的增长，它将需要更多的基础设施，规范的或不规范的，而YTL，Yeoh先生说，已经证明自己能够提供这些东西。尤其是，他预见了利润丰厚的合同：将WessexWater的技术应用到清洁这片大陆上墨黑的水道。这的确听起来像一个很有前途的增长行业。但是将有其它公司——一定程度上包括中国的一些相当大的水处理公司——将会争取这些合同。至今Wessex Water在英国西部获得了令人满意的利润，但是其成为一个全球领导人的潜力还未被检验过。
Hitherto, Malaysian companies have had a remarkable record of pickingduds when they buy foreign firms. Laura Ashley, a fashion designer;Costain, a builder; Lec, a fridgemaker; and Agusta, a motorbike-maker:all were bought by Malaysian firms with less than glorious outcomes.Even so, if they continue to improve, YTL and the region's otherconglomerates may yet break the mould. Other Asian world-beaters alsobegan as divisions of sprawling, family-run groups but eventuallyescaped their orbit sufficiently to thrive. An executive at India'sglobally expanding Tata Steel, for instance, says that Tata Sons, fromwhich it sprang, maintains its minority stake in the firm but thesedays leaves it to be run by professional managers.
迄今为之，马来西亚的公司在收购外国公司上拥有着一个值得注意的记录：选中丟棄不要的東西公司。LauraAshley，一家时装设计公司；Costain，一家建筑公司；Lec，一家电冰箱制造企业；以及Agusta，一家摩托车制造企业；全都是马来西亚公司购买的，结果都不理想。虽然如此，如果他们继续发展，YTL和该地区的其它联合企业可能将改变这种状况。其它领先世界的亚洲企业一开始也是作为四处扩张、家族式管理的企业集团的分支，但是最终完全地摆脱了过去的轨道，走上繁荣的道路。例如，在全球进行扩张的印度企业塔塔钢铁的一位经理这样说，TataSons，塔塔钢铁就是从它发展出来的，保持它在公司的少数股份，但今天已将它交给职业经理人管理。
Another hopeful sign for South-East Asia's corporate future is that itseems to be getting easier for those outside the closed circle of thepolitically well-connected to set up new businesses and challenge theincumbents. Mr Fernandes's AirAsia is the prime example. Started onlysix years ago, the airline now criss-crosses the region with a hugenetwork of low-cost flights. Mr Fernandes, a former music-industry man,is still frantically adding routes: he expects to be allowed to startdomestic flights in the Philippines and Vietnam soon. He has started aseparate, low-cost, long-haul airline, AirAsiaX, which is flying fromKuala Lumpur to Gold Coast airport in Australia and Hangzhou nearShanghai. Flights to Melbourne, Amritsar and eventually London are onthe way.
另一个给东南亚公司的未来带来希望的信号就是：看起来那些处在封闭的政治联系圈子之外的公司设立新公司和挑战现有公司正变得越来越容易。Fernandes的AirAsia就是主要的例子。仅于六年前建立，该航空公司现在用一张低成本飞行的巨大网络覆盖了这一地区。Fernandes先生，一位前音乐产业人士，现在仍在疯狂地增加航线：他期望能够很快获得允许在菲律宾和越南开始国内飞行。他已创建一家独立的、低成本的、长途航空公司，AirAsiaX，从吉隆坡（Kuala Lumpur）飞到澳大利亚的黄金海岸（GoldCoast）机场以及上海附近的杭州。飞墨尔本、阿姆利则以及最终到达伦敦的航线正在筹划中。
Though ASEAN has been slow to lower its barriers in some areas, inaviation they are coming down. Singapore and Malaysian Airlines'duopoly on the Kuala Lumpur-Singapore route has just been scrapped and,says Mr Fernandes, incumbent firms across the region are finding thattheir home governments are no longer protecting them. It could be saidthat, by linking the region's cities with cheap and frequent flights,Mr Fernandes has done more to turn South-East Asia into an integratedeconomic block than any ASEAN ministerial summit. In other once-coddledindustries, too, governments are starting to dismantle monopolies.YTL's Mr Yeoh says there will soon be “no hiding place” for firmstrying to live from old-fashioned rent-seeking.
尽管东盟在一些方面降低壁垒的动作很慢，在航空业壁垒正在减少。Fernandes先生说，新加坡和马来西亚航空在吉隆坡——新加坡航线上的双头垄断已经被打破，现在该地区的公司发现其本地政府不再保护他们。可以这么说，通过廉价和频繁的航班将该地区的城市联结起来，在将东南亚转变成一个一体化的经济区域这件事情上，Fernandes先生比任何一届东盟部长会议做的都要多。在其它曾经宠坏了的行业里，政府也开始打破垄断。YTL的Yeoh先生说那些企图依靠老式的寻租来生存的公司的将很快“没有藏身之处”。
The rise of China and India, with their huge home markets, may meanthat it is too late for South-East Asia to become big in manufacturing.But it does still have the prospect of producing world-leading firms inother areas where it has an edge. Tourism and hospitality are obviousexamples, especially as the region's neighbours become richer.South-East Asia could become both “the Mediterranean and the Caribbeanof Asia”, enthuses YTL's Mr Yeoh.
中国和印度的崛起，加上他们巨大的国内市场，可能意味着东南亚想要成为制造业的巨人已经太晚了。但是它的确仍然可以在拥有优势的其它领域产生出领先世界的公司。旅游和接待是很明显的例子，尤其当该地区的邻国变得更加富有时。YTL的Yeoh先生兴奋地说，东南亚能够成为“亚洲的地中海和加勒比”。
Playing to your strengths
拼尽全力
Apart from YTL, well regarded companies that could use tourism growthas a springboard to global greatness include hotel groups such asSingapore's Banyan Tree, casino operators like Malaysia's Genting andeven hospital firms like Thailand's Bumrungrad, a growing competitor in“medical tourism”. However, as HSBC's Mr Evans points out, such firmshave yet to demonstrate that they can transfer their vaunted “servicementality” to other parts of the world that do not have an abundance ofcheap labour.
离开YTL，让我们好好看看那些能够将旅游增长作为其全球增长的出发点的公司：包括新加坡BanyanTree这样的酒店集团，马来西亚Genting那样的赌博业运营者，以及甚至像泰国Bumrungrad（一家正在发展的“医疗旅游”的竞争者）那样的医疗企业。然而，就像HSBC的Evans先生所指出的那样，这些公司不得不向世界展示：他们能够将其自诩的“服务意识”传达到世界上其它没有足够廉价劳动力的地方。
Natural resources are another promising source of future world-beaters.Following Brazil and, closer to home, Australia, South-East Asia isbeginning to build global businesses by making the most of what naturehas provided. Palm oil, of which most of the world's supply comes fromMalaysia and Indonesia, is one example. Some plantation firms aresimply hitching a ride on the boom in prices but IOI, a Malaysianplantation owner, is about 50% more efficient in terms of yield perhectare than its local rivals. If the government could push SynergyDrive, its new behemoth, to the same level of productivity, it wouldboost the economy.
自然资源是未来领先世界的另一个保证。学习巴西和，离自己更近的，澳大利亚，东南亚通过生产自然资源所能提供的商品正在开始建立全球性的公司。棕榈油，其全球供应量绝大多数来自马来西亚和印度尼西亚，就是一个例子。一些种植企业仅仅是乘上价格上涨的顺风车，但是IOI，一家马来西亚的种植园所有者，其每公顷的产量大约比其当地对手高出50％。如果该国政府能够推动Synergy Drive，这个新的庞然大物，达到同样的生产力水平，那将提升经济状况。
The region already dominates some types of agricultural produce:Thailand and Vietnam are the world's two largest rice exporters, forexample. Since the region has so much coastline and so many rivers,there is much scope for expanding fish-farming and seafood production.Thai Union, a giant tuna-packer, is already in BCG's top 100. Vietnam,the region's rising star, has several big seafood firms which, if theycan resist the regionwide scourge of diversification, may one day reachsimilar heights. But to make the most of its fertile land and waters,the region needs more sophisticated food-processing industries andstronger brands, instead of exporting bulk commodities.
该地区已经在一些农业生产中占据了主导地位：例如，泰国和越南是世界上两个最大的稻米出口国。因为该地区拥有如此多的海岸线和如此多的河流，扩大渔业和海产品生产拥有很大空间。泰国联盟（ThaiUnion），一家巨型金枪鱼批发商（tuna-packer），已经进入BCG的百强。越南，该地区的上升的明星，拥有几家大型海产品公司，如果他们能够抵制住该地区盛行的多样化经营的灾难，有一天很可能达到同样的高度。但是为了最好地利用其肥沃的土地和多产的水域，该地区需要技术含量更高的食品处理产业以及更加强大的品牌，而不是仅仅大量出口商品。
The reasons why South-East Asia has been slower than other regions toproduce world-class businesses are complex and open to debate. But theydo seem to be linked to the perseverance of narrow elites and to thecountries' sluggishness in overcoming old rivalries and building anintegrated regional market. As a handful of promising companies areshowing, not all is lost. Even in today's fierce jungle, South-EastAsia can still breed tigers.
为什么东南亚在产生世界级公司方面比其它地区要慢，这个问题很复杂，而且很有争议。但是看起来这的确与该地区不屈不饶的一小撮精英以及这些国家在战胜老对手和建立一个一体化的地区市场上的迟缓有关。就像几个有前途的公司所显示出来的那样，并非所有的方面都失败了。甚至在今天的竞争激烈的丛林里，东南亚仍能养育老虎。
[ 本帖最后由 zyshbzh 于 2008-3-13 09:36 编辑 ]
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