By Michael Backman (auth.)
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Additional info for Asia Future Shock: Business Crisis and Opportunity in the Coming Years
In 2005, it paid around US$120 million for UK engineering and design firm Incat Technologies, and US$239 for Bermuda-based wholesale telecommunications company Teleglobe. It bought the Eight O’Clock Coffee brand in 2006 for US$220 million, making Tata the biggest seller of whole bean coffee in the US. It also bought a 30% stake in Glaceau of the US, a maker of ﬂavored water, for US$677 million. 3 billion for Londonbased Corus, a European steel group formed in 1999 by the merger of British Steel with the Netherlands-based Koninklijke Hoogovens.
It will involve a big reduction in servicemen too, thus releasing more manpower for the civilian workforce. Another factor that will hamper North Korea’s integration with South Korea is the technical backwardness of almost all North Koreans. Most simply have no idea of contemporary technology. The Australian Trade Commission, for example, even advises businesspeople traveling to North Korea to hand out printed matter – preferably in Korean – rather than videos or DVDs, as corporate ownership of VCR or DVD equipment is limited and affected by power shortages.
Blackouts are commonplace. Oil shortages have become severe too. Reportedly, the North has even tried to burn tires in its power plants to generate electricity. The capital Pyongyang has electricity for much of the day but most of the rest of the country does not. One of the better known signs of North Korea’s profound economic backwardness relates to nighttime satellite imaging of the Korean peninsular: the South is ablaze with light – from street lights, factories, offices and housing – out to sea Japan is also ablaze, and the North is one large black hole.
Asia Future Shock: Business Crisis and Opportunity in the Coming Years by Michael Backman (auth.)