Asia is on the rise. It has shown remarkable developmental dynamism compared to Europe and North America. Despite being one of the late or late-late-developers in terms of industrialization and democratization, some of Asian countries now spearhead the world’s most rapid transformation into the 21st capitalism. I believe that there may be an ideal type of capitalism, but I must admit that there is a variety of capitalism existing in different national forms. Capitalism can take dissimilar forms nationally and regionally, depending on development strategy, state-society relations, class coalition, business-government nexus, labour market structure, industrial relations, corporate governance system, innovative system, and so on. This paper deals with how to study capitalism in Asia from a theoretical and methodological point of view. I propose to approach capitalism as plural forms. I argue that there are some distinct features of capitalism in Asia. Historical perspectives do not tally with the idea of Asian capitalism as being extensions of Western dynamics. It is my contention that Asian capitalism is not homogeneous in that state-interventionist Japan, South Korea, Taiwan and Malaysia are dissimilar with free market-oriented Singapore and Hong Kong. China is also a special challenge from a comparative capitalism perspective. I also propose to analyse Asian capitalism from a comparative perspective. Comparative analysis of capitalist development will be useful in finding out the similarities and differences across countries in Asia.