The processes of flavor-changing neutral currents involving neutral gauge bosons are investigated in an asymmetric left-right model where the light fermions get their masses through radiative corrections. The mixings of K0-K¯ 0, D0−D¯ 0, and B0−B¯ 0 are studied and it is found that all, but with a constraint on the upper bound of down-type quark mass mN of the fourth generation, are compatible with the experimental results. The flavor-changing decays of the light neutral gauge boson Z1 and charged leptons are also studied. It is shown that the branching ratio B(Z1→b¯s+bs¯) can reach the order of 10−7 which is within the margin to observe the flavor-changing decays of Z1 at CERN LEP. All processes involving flavor-changing decays of charged leptons are well below the experimental limits.