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Y. Andropov's avatar

I spent twenty years as a securities analyst (bond ratings) whose domain included Asian banks and sovereigns. Asians are challenged by many Western cultural artifacts which, in my case, included transparent financial accounting and the classical financial methodology of securities analysis. Since "face" is crucial, the purpose of accounting in Asia is to project an attractive face, and the purpose of securities analysis is to reinforce existing hierarchical structures. These challenges are such that neither financial accounting nor securities analysis can be reconciled with Asian cultural values.

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Bernard Hickey's avatar

Excellent heads up Michael. Love it. Just wondering if the ‘shock-ful’ in the lead should be ‘chock full’? Cheers

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