business and culture of the pacific rim

At slightly past the halfway point in our Pacific Rim business tour, we had the tremendous pleasure of meeting with two excellent businesses on January 14th: Mastercard and Everstone Capital. At 8:30am the group departed for Mastercard’s beautiful southeastern Asian headquarters. The massive building impressively dwarfed its neighbors and comprised excellent facilities as well.

While we didn’t receive a full tour, we engaged in an informational and question/answer session for approximately two hours with VPs and heads of human resources, business development, analytics, and innovation. We discussed Mastercard’s history, corporate culture and the importance of diversity, growth, and acquisition strategies within electronic payments. Students asked insightful questions about the nature of electronic payments, how Mastercard plans to expand its operations, and the importance of tech acquisitions.

Following this meeting, we took a quick snack break and dove into another session oriented around the company’s innovations. We learned about their implementation of artificial intelligence and body metric security identification methods. Lastly, we concluded the session by experimenting with Mastercard’s virtual reality headsets which facilitated our learning of financing practices in underprivileged communities within the African continent.

After a short lunch hiatus, the group reconvened to meet two members of Everstone’s private equity team, Associates Sheel and Namrata. Over the course of two hours we had a meaningful and insightful discussion about how private equity firms are generally structured, Everstones new unique control approach, strategies for investments within India, and complications which can arise (such as state governments reneging on solar investment agreements). During the presentation we also learned about the process for submitting an investment of their capital equity from pipeline identification, letters of intent, committee investigation, and fundraising.

The session concluded with some tips for students interest in venture financing/private equity to consider a short career in investment banking so as to increase their likelihood of being employed by a private equity firm, for it was explained that such companies rarely hire students straight out of undergraduate or graduate schooling.

Today, the group started with a 10 a.m. bus ride over to the Gardens by the Bay. With the incredible Marina Bay Sands property in the background, the group explored all that this unique area has to offer. First, we took the elevator up the Super Tree Observatory & OCBC Skyway. A couple of nights prior, the group was able to experience a light show displayed on the very platforms we were now walking on. The Skyway provided incredible views of the city of Singapore, its large shipping ports, and of course, the Marina Bay Sands Hotel and Casino.

After the walk around the OCBC Skyway, the group had a nice break from the 95-degree Singaporean heat inside of the Conservatory Flower Dome. Luckily, it was consistently air conditioned at 65-degrees and took roughly 45 minutes to walk through. The Conservatory Flower Dome is the largest glass greenhouse in the world with incredible displays of flowers and plants from the Mediterranean and semi-arid regions. After the break for air conditioning, the group continued making its way through Gardens by the Bay stopping next at the conservatory Cloud Forest. The forest is an attraction surrounded by mist. There are bundles of diverse vegetation and hidden floral gems. As cool as the forest was, this experience actually ended with an even more exciting twist. The interactive 4D Life of a Dragonfly experience provided the group with a Disney-esque vibe to end the time of the Gardens. As part of the 4D video, the audience got the sensation they were dragonflies flying through the property of the Gardens by the Bay.

As great as our time was in the morning, an even better afternoon was planned back on our home soil at the United States Embassy.

The United States Embassy was perhaps the most informative and engaging meeting we had to date.  Our group was welcomed into the front gates of what seemed like an impenetrable fortress.  After passing through all security checkpoints, we took our seats in a large meeting room.  Three Embassy Employees, Vice Counsel Patrick Cho, Economic policy director Eva Leone, and the Defense Attaché were in attendance.  Each of these State Department employees offered a lot of insight.

They each gave introductions about their pasts, interests, and what it is like to work at the U.S. Embassy.  Several students asked questions to the Marine Attaché in regard to security of an embassy and military engagement across southeast Asia.  We learned a lot about the strong relationship between Singapore’s military and the military of the United States.  We also were informed about the United States military’s ability to be anywhere in the world within 3 days, with a sizable strike force.  The most questions were posed to Ms. Leone.  We asked engaging questions about how the Trade War with China has affected the region and what economic policies have encouraged the 4500 U.S. companies to do business in Singapore.

Overall, it was a full day of learning and activity.  At the end of the day we felt like we had seen beautiful places, along with learning a lot about the global operations of the State Department.  We cannot wait to see what our following days hold.

Ben Seegel & Henry Collins

January 12^th was yet another noteworthy day for the crew here on Pac Rim 2020! Our day began with a stop at the pristine National Orchid Garden here in Singapore! There we were able to observe an array of beautiful plant life over a sprawling complex filled with fantastic, sights, sounds, and smells of the Garden. Here pictured are just a few of the many highlights that we saw during our time there.

 Next, we proceeded to take a quick bus ride back to the heart of the city where we made our way through a tour pf the Asian Civilizations museum. Here the group was able to take in some of the historical artifacts from the region. Many items were things such as pottery work and writings, as well as basic tools/weapons/utensils etc. In addition to this we were able to see some contemporary art as well, this really allowed for us to gain a great understating of how art was perceived in ancient Asia, and how that art has transformed in the modern era.

After our time at the museum the group proceeded to what I believe many would consider to be quite a highlight of the trip so far, the Tiger Brewery Tour! Here we were able to get a full understanding of how Tiger produces and distributes its high-quality beer, but the fun did not stop there. After the tour the group proceeded to a tasting section full of fun! Not only did this include the enjoyment of a great number of fresh beers but also included a very impressive performance by Raj and Sarah on the pool table in the Tiger lounge. Overall, a great time for everyone, and a fun way to spend the afternoon!

Finally, our day ended with a great time at the Night Safari at the Singapore Zoo! Here we were able to see a great array of fascinating creatures up close and personal! Cam was also lucky enough to get to spend some time on stage with the trainers and a particularly sizable python! After our time here the group finally proceeded home after a long day of fun!

Harry Stone and Aidan Hoey

An all day city tour is the perfect introduction to Singapore, and under the direction of our tour guide, Edna, we fell in love with the city. Our first stop on our tour was the iconic Merlion statue, a staple of of Singapore.  Half-lion and half-fish, the statue is a major tourist attraction and is a personification of the city itself. As some of us tried to capture pictures pretending to catch the water in our mouths, others opted for purchasing cool drinks and taking in the views of the bay. 

Even at 9:30am, the heat is intense, and we were glad that our next stop was the lobby of the famous Fullerton Hotel, located right on the mouth of the Singapore River. We took our time exploring the atrium and taking pictures with the hotel’s Chinese new year decorations, definitely enjoying the AC.

After returning to the heat, Edna proposed an appealing idea, that we take a quick break and stop for Ice cream.  Our treat resembled an ice cream sandwich, a block of ice cream stuck between 2 wafers. More adventurous folks tried unique flavors, such as Yam and Durrian, while other stuck to more classic flavors of mint chocolate chip and mango.

Our next stop was Arab street, which was filled with an array of stores selling brightly colored fabrics and textiles, as well as numerous ethnic restaurants. Arab street is also home to the island’s largest mosque, the Sultan Mosque. With its majestic golden dome and beautiful architecture this place of worship is definitely worth a visit, no matter what one’s religious beliefs.

Then it was time for lunch. Our group descended upon The Banana Leaf Apolo for some authentic India food, enjoying, butter chicken, naan, and a whole assortment of other delicacies. 

For the second half of today’s adventures. The group journeyed to Little India where we saw a festival celebrating the people and the process necessary to put food on our tables. There was a dance with two small children presenting each step, from planting to cooking, the food takes on its way to you. One particular thing we noticed was the rich culture along the streets and within the festival. While we were semi-familiar with their culture, being in Singapore seemed to uniquely blend cultures from all around Asia while still staying true to the roots of each.

Next stop was Chinatown while most of the group was quite exhausted at this point, we were able to see a beautiful temple that held the tooth relic of Buddha. It was truly incredible to see the sheer size of the temple with gold everywhere. The traditions and depth of religious practices were clear as we sported skirt wraps and shawls to meander through the levels. A tranquil orchid garden was also on the roof overlooking Chinatown below.

After a brief break at the hotel, we took an open air bus to a food market that had multiple different types of food and drinks all within the 5-10 dollar range. We had Pad Thai, dumplings and then ventured back to the bus to ride through the sea of skyscrapers at night with the warm breeze on our faces.

We turned into Gardens by the Bay and walked through to view the changing lights of the super trees with dramatic music to make it all the more breathtaking. The lights spiraled around the trees with the panoramic view of Singapore in the background.

After hustling to the bus, where it was only able to stop of a few seconds before being fined, we rode to the riverside to take a riverboat into the bay. Learning about Clarke Quay and history of the bridges in relation to Singapore and their separation from British rule in 1965. The cruise was what concluded the night. A group of friends journeyed to the riverside with a plethora of bars. From Irish to Hindi, there were vibes to suit everyone’s taste.

By Claire Cromley and Hannah Chapman

On January 9^thwe were given a free day to explore the city on our own. We were able to see many of the tourist attractions on the other days of travelling so we spent much of our day wondering the streets and eating as much local food as we could. Vietnamese food is very unique with many staples like bahn mi, pho, and cha ca to name a few. We went to several different bahn mi places to see if we could find the best one in Hanoi. We also went to a restaurant that only serves one thing, cha ca, which is fish cooked in front of you at the tables mixed with other spices and noodles. It was great! We also went and ordered some traditional egg coffee. After World War II, Vietnam did not have access to large quantities of milk.  With the lack of milk, they created egg coffee, a way to make their coffee creamy without milk.  To make egg coffee you whip the yellow part of an egg and add sugar.  

Hanoi is the capital of Vietnam and has a little over 7 million people living in the city.  The traffic in Hanoi was something we had never seen before.  The majority of people driving on the roads are driving motor bikes allowing them to have easy mobility on the busy streets.  The streets of Hanoi are very hectic and you need to be very careful when walking along.  As a group we have had a few close calls while walking the streets of Hanoi!  You have to walk directly into moving traffic and hope the drivers do not hit you!  Luckily no one of the trip was injured by any moving vehicles on the trip.    

For dinner we all went as a group to an amazing restaurant. It was a restaurant that served Vietnamese food with more formal atmosphere than the street food we had been eating. Once again the food was great! Our other classmates went out and toured museums, visited the Hoa Lo Prison, shopped and walked around the Hoan Kiem Lake. We are all definitely going to miss Hanoi! 

On January 10^thwe left Vietnam and began our journey to Singapore which is the second country we are visiting on the trip.  We will be staying in Singapore for 6 days.  Everyone on the trip is very excited for Singapore! 

Ashley Zung and Kelsey McEvoy

For our days for the blog we visited Ha Long Bay. We stayed aboard the beautiful vessel, The Regina.  Which you can see pictured below. 

While aboard, we had the opportunity to participate in activities such as exploring the caves, kayaking, tai chi, and off boat excursions. 

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As we ventured out kayaking, the surrounding wildlife was incredible. We surprisingly had several fish swimming up to our kayak as if we were about to feed them. We also had dogs jumping off anchored docks and swimming up to us. Being out on the open water was incredible and hearing the echos of people who seemed miles away was amazing.  

The boat as a whole was an incredible and luxurious experience that we were so lucky to experience. Especially the service on the boat was exceptional. This trip was one of the highlights of the entire program for all of us. Thank you for an unforgettable experience.

During our second full day in Vietnam we visiting FPT University and the FPT office building. At FPT University we took a tour of the campus and learned what college is like in Vietnam. FPT University is mostly student majoring in technology and software, however there are many business students as well. The campus we visited has 5000 students, but there are several other campuses, as well. FPT has a high school and elementary school associated so the students move through each school. As they get older the focus in school is more technology and they start to learn how to code. There are about 800 internationals students and 2% are American. As we walked around the campus we noticed there were many signs and posters in English because the school likes to be internationally friendly.

After we visited the school, we drove just a few minutes away to the company’s campus. At their headquarters, we were first given a tour of their beautiful campus before we were given an overview of the company. Transitioning from their college campus to their headquarters, a FPT employee highlighted how 70% of students that are enrolled at FPT University are recruited and employed by FPT upon graduation. As a leading provider of technology, FPT is one of Vietnam’s largest software companies with a known presence in markets outside of the country, such as the United States. With offices in Dallas, Washington, California, and Colorado, FPT is exponentially growing, making it’smark in the software industry.

After our office visit, we stopped by a local restaurant (La Vong Restaurant) near FPT’s campus to indulge in a traditional Vietnamese lunch. The restaurant served us traditional Vietnamese items such as fried corn, tofu and pork shoulder, but incorporated a hint of home by serving us french fries on the side. 

Once we finished lunch, we headed back into Hanoi to visit the Thang Long Imperial Citadel which is a complex of historical imperial buildings. The citadel signifies the historical and cultural importance of Vietnam. It is full of artifacts and items dating back to the 6th through 20th centuries. It was not open on the day we went so we weren’t able to go inside, however we walked around the outside of the building. After that we returned back to the hotel for an evening of free time.

Good morninggggg, Vietnam! Our journey to Vietnam started at JFK airport on the night of January 2nd 2020. After much sleeping for most of us, our 15 hour flight finally landed in the heart of Inchenon, South Korea, just west of the capital Seoul. We had a quick layover and we were off again to embark on a 5 hour flight to our first destination of Hanoi, Vietnam. Upon arriving to Hanoi, we had a bit of an problem at customs when two of our students had issues with their visas. We then met up with our tour guide, Minh (See photo). We then took off in our vibrant pink bus to our hotel in the middle of the Old Quarter in Hanoi. We had the rest of the day to explore on our own and catch up on sleep. We quickly noticed as we were walking throughout the streets that Hanoi’s traffic is extremely chaotic and crossing the street proved to be very dangerous (See video). The next morning we had breakfast and then were off to the Ho Chi Minh Mausoleum. At the site, we waited in a long “queue” as Minh would say. This line took us to the mausoleum which was guarded by military men in white suits (see picture). The government requires these men to watch over the mausoleum to guarantee that the privacy of the casket is honored. (No cameras and hands in front) Inside the mausoleum, Ho Chi Minh lies in an open casket in which 4 military men stand completely still to guard the corners of the casket. After this, we explored the rest of his compound which included his garden, his home, and work place. (See pictures) we found that he was a very simple man, who never got married or had kids as he believed the people of Vietnam was all the family he needed. We then went to a local art shop where disabled people are given opportunity to work. The most unique aspect of this shop were the hand woven art pieces where a needle and a thread were used to replicate scenic images of the city of Hanoi, Ha Long Bay, and overall Vietnamese culture (see photo. We then traveled to a museum where the different ethnic groups of Vietnam and their history was highlighted. Behind the museum, was a garden where traditional Vietnamese huts where shown. Finally, we went to a group lunch where we served very delicious traditional Vietnamese food. After lunch, we headed the largest natural lake in Hanoi where we got to see different temple structures. At the lake, local people were selling turtles and birds as a ritual to send good fortune by sending them in the lake/ air (see photo). Our last stop of the day was exploring the Old Quarter of Hanoi where we walked around the busiest parts of the city and explored the beer corner where locals sit outside to drink beer and be social. At the end of our walk we arrived at our hotel where we were given the rest of the night to ourselves. Some students enjoyed walking around the Old Quarter, grabbing a drink at the hotel rooftop bar, and some even made their way to a local club. Overall the first full day in Vietnam was incredibly eventful and enriching as most of us have never experienced Asian culture. Student are definitely getting pushed outside of their comfort zone in many different ways. One of the most prevalent differences is the way in which the food is handled and prepared (See photos). Students were surprised that in the streets of Hanoi, meat is displayed on the carts of local vendors and the vegetables are being washed on the sidewalk. Because of this students became more aware and cautious of what they were eating. 

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Welcome to Elon University’s Winter Term 2020 student blog of the course titled “Business and Culture of the Pacific Rim”!  We are delighted to have you following our journeys and experiences abroad.

The world has seen some dramatic economic and financial changes in the past decade. One of the biggest stories has been the remarkable growth of the “emerging” economies, in particular the BRIC (Brazil, Russia, India, China) nations. This short term study abroad course, comprising a 1 credit-hour GBL course in the fall semester and a 4 credit-hour winter term course, considers the impact of growth in these economies on global growth and balance through our study of some prominent Asian economies, namely Vietnam, Singapore, Malaysia, and Vietnam.

Students on this course gain immensely from a deeper understanding of the significant opportunities, and of the challenges, brought about from a flatter, better connected world – with significantly conflicting opinions on the future growth prospects in the developing world relative to developed economies.  Throughout the program, students will be able to compare their experiences in the Pacific Rim with the U.S. through interactions with business, government, and/or academic leaders in Asia, as well as through cultural field trips, and company visits.

Raj Gupta & Mark Mallon