The Entrepreneurial Chinese

Ironically, the social status of the businessman is not high in Chinese society: Shi (scholar), long (farmer), kong (worker), shan (businessman) ” the businessman used to be regarded as the lowest trade in ancient Chinese society. For many commoners, the most effective way to rise to prominence before the 1911 revolution, which overthrew the Qing Dynasty, was through imperial examinations. Once a scholar passed the imperial examinations, he would be appointed as an officer in the imperial court . With position and power, the money would then start to come.

Toward the end of the 19th century, however, the Middle Kingdom experienced extreme instability. The invasion of the country by the Western powers in the 19th century, Japan at the beginning of the 20th century, and the subsequent civil wars have caused much hardship to the civilians. Many Chinese fled the country to avoid war and famine . Millions settled down in Southeast Asia. As strangers in a foreign land with no political and social backing, the only source of security for them was money. Due to language problems and other issues, many Chinese had a hard time getting good employment from the natives or the local governments . Therefore, they chose to set up their own businesses. Today, ethnic Chinese, who comprise 6.5% of the population in Southeast Asia, control the bulk of listed companies in the region's stock markets ” more than 80% in Thailand and Singapore, 60% in Malaysia, about 50% in the Philippines, and 70% in Indonesia.