Historically, ancient Chinese society was fraught with chaos and instability with no structural system in place (e.g. government) to organise society as we know it in the twenty-first century. During these turbulent and often difficult times, society created an informal way of organising itself. Today, this is more commonly known as guanxi.
Foreign exchange turnover in Australia is currently around AUD$165 billion a day. For most people, the banks are considered to be the only option when it comes to making an international money transfer, or receiving funds from overseas. Non-bank providers of foreign exchange services can often provide a significantly cheaper way to convert currency.
The Association of Southeast Asian Nations, ASEAN-10, or more commonly ASEAN, was established in Bangkok, Thailand on 8 August 1967 following the signing of the ASEAN Declaration (Bangkok Declaration) by the founding members of ASEAN (Indonesia, Malaysia, Philippines, Singapore, and Thailand).
Within Asia, rapidly fluctuating demographics, rising incomes leading to increased consumer spending, and a progressively liberal business environment have made these emerging economies increasingly attractive to Western businesses across a diverse range of industries. This shift has been underpinned with declining sales in Western domestic markets and has forced many companies to look to Asia as the driving force for their long-term global growth strategies.
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