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Overseas Chinese businesses in Southeast Asia are usually family owned and managed through a centralized bureaucracy.<ref name="Weidenbaum"/><ref>{{Cite book |title=The China Information Technology Handbook |last=Pablos |first= Patricia |publisher=Springer |year=2008 |page=205}}</ref> The businesses are usually managed as [[family business]]es as they are passed down from one generation to the next.<ref name="Weidenbaum"/><ref>{{Cite book |title=The China Information Technology Handbook |last=Pablos |first= Patricia |publisher=Springer |year=2008 |page=205}}</ref><ref>{{Cite book |title=The Bamboo Network: How Expatriate Chinese Entrepreneurs Are Creating a New Economic Superpower in Asia |last= Weidenbaum |first=Murray L. |last2=Hughes |first2=Samuel |publisher=Free Press |year=1996 |isbn=978-0684822891 |pages=4}}</ref><ref>{{Cite book |title=Business Networks in Asia: Promises, Doubts, and Perspectives |last=Richter |first=Frank-Jürgen |publisher=Praeger |year=1999 |isbn=978-1567203028 |pages=180}}</ref> Many firms generally exhibit a strong entrepreneurial spirit, intuitive, parsimonious, and fast decision making style, as well as paternalistic management and a continuous chain of hierarchical orders.<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=15}}</ref><ref>{{Cite book |title=Business Networks in Asia: Promises, Doubts, and Perspectives |last=Richter |first=Frank-Jürgen |publisher=Praeger |year=1999 |isbn=978-1567203028 |pages=152}}</ref> These firms typically operate as small and medium sized businesses rather than large corporate conglomerate entities typically dominant in other East Asian countries such as Japan and South Korea.<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=12-13}}</ref> Trade and financing is guided on extensions of traditional [[Kongsi|family clans]] and personal relationships are prioritized over formal relationships. This promotes commercial communication and more fluid transfer of capital in a region where [[financial regulation]] and rule of law remain largely undeveloped in Southeast Asia.<ref name="onearm">{{cite book|author=Murray Weidenbaum|title=One-Armed Economist: On the Intersection of Business And Government|url=https://books.google.com/books?id=p0vxapmyvBsC&pg=PA264|accessdate=30 May 2013|date=1 September 2005|publisher=Transaction Publishers|isbn=978-1-4128-3020-1|pages=264–265}}</ref> Bamboo networks are also transnational, which means channeling the movement of capital, information, and goods and services can promote the relative flexibility and efficiency between the formal agreements and transactions made by family-run firms.<ref>{{Cite book |title=The Dynamic American Firm |last=Weidenbaum |first=Murray |publisher=Springer |year=2012 |isbn=978-1461313144 |publication-date= February 10, 2012 |page=80}}</ref> Business relationships are based on the Confucian paradigm of ''[[guanxi]]'', the Chinese term for the cultivation of personal relationships as an ingredient for business success.<ref name="handbook">{{cite book|author=Paz Estrella Tolentino|editor=H. W-c Yeung|title=Handbook of Research on Asian Business|url=https://books.google.com/books?id=lTfWutnFbfkC&pg=PA412|year=2007|publisher=Edward Elgar Publishing|isbn=978-1-84720-318-2|page=412}}</ref><ref>{{Cite web |url=https://research.vu.nl/ws/portalfiles/portal/1589314 |title=Templates of “Chineseness” and Trajectories of Cambodian Chinese Entrepreneurship in Phnom Penh* |website=Vrije Universiteit Amsterdam |pages=68}}</ref><ref>{{Cite book |title=The China Information Technology Handbook |last=Pablos |first= Patricia |publisher=Springer |year=2008 |page=201}}</ref> The bamboo network has been heavily influenced by [[Confucianism]], an ancient Chinese philosophy developed by philosopher [[Confucius]] in the 5th century BC that promotes [[filial piety]] and pragmatism with respect to the context of business.<ref name="Weidenbaum2328"/><ref>{{Cite web |url=https://research.vu.nl/ws/portalfiles/portal/1589314 |title=Templates of “Chineseness” and Trajectories of Cambodian Chinese Entrepreneurship in Phnom Penh* |website=Vrije Universiteit Amsterdam |pages=78 & 90}}</ref><ref>{{Cite web |url=https://research.vu.nl/ws/portalfiles/portal/1589314 |title=Templates of “Chineseness” and Trajectories of Cambodian Chinese Entrepreneurship in Phnom Penh* |website=Vrije Universiteit Amsterdam |pages=68 }}</ref> Guanxi has also been attributed to as a significant mechanism for the implementation of cooperative business strategies in the bamboo network.<ref>{{Cite book |title=Chinese Capitalism in Southeast Asia: Cultures and Practices |last=Santasombat |first=Yos |publisher= Palgrave Macmillan |year=2017 |isbn=978-9811046957 |pages=9}}</ref><ref>{{Cite book |title=Chinese Capitalism in Southeast Asia: Cultures and Practices |last=Santasombat |first=Yos |publisher= Palgrave Macmillan |year=2017 |isbn=978-9811046957 |pages=14-17}}</ref> For the Chinese, a strong network has always been an important pillar of Chinese business culture, following Confucianism's belief in the individual's inability to survive alone.<ref>{{Cite book |title=The China Information Technology Handbook |last=Pablos |first= Patricia |publisher=Springer |year=2008 |page=204}}</ref>
Overseas Chinese businesses in Southeast Asia are usually family owned and managed through a centralized bureaucracy.<ref name="Weidenbaum"/><ref>{{Cite book |title=The China Information Technology Handbook |last=Pablos |first= Patricia |publisher=Springer |year=2008 |page=205}}</ref> The businesses are usually managed as [[family business]]es as they are passed down from one generation to the next.<ref name="Weidenbaum"/><ref>{{Cite book |title=The China Information Technology Handbook |last=Pablos |first= Patricia |publisher=Springer |year=2008 |page=205}}</ref><ref>{{Cite book |title=The Bamboo Network: How Expatriate Chinese Entrepreneurs Are Creating a New Economic Superpower in Asia |last= Weidenbaum |first=Murray L. |last2=Hughes |first2=Samuel |publisher=Free Press |year=1996 |isbn=978-0684822891 |pages=4}}</ref><ref>{{Cite book |title=Business Networks in Asia: Promises, Doubts, and Perspectives |last=Richter |first=Frank-Jürgen |publisher=Praeger |year=1999 |isbn=978-1567203028 |pages=180}}</ref> Many firms generally exhibit a strong entrepreneurial spirit, intuitive, parsimonious, and fast decision making style, as well as paternalistic management and a continuous chain of hierarchical orders.<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=15}}</ref><ref>{{Cite book |title=Business Networks in Asia: Promises, Doubts, and Perspectives |last=Richter |first=Frank-Jürgen |publisher=Praeger |year=1999 |isbn=978-1567203028 |pages=152}}</ref> These firms typically operate as small and medium sized businesses rather than large corporate conglomerate entities typically dominant in other East Asian countries such as Japan and South Korea.<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=12-13}}</ref> Trade and financing is guided on extensions of traditional [[Kongsi|family clans]] and personal relationships are prioritized over formal relationships. This promotes commercial communication and more fluid transfer of capital in a region where [[financial regulation]] and rule of law remain largely undeveloped in Southeast Asia.<ref name="onearm">{{cite book|author=Murray Weidenbaum|title=One-Armed Economist: On the Intersection of Business And Government|url=https://books.google.com/books?id=p0vxapmyvBsC&pg=PA264|accessdate=30 May 2013|date=1 September 2005|publisher=Transaction Publishers|isbn=978-1-4128-3020-1|pages=264–265}}</ref> Bamboo networks are also transnational, which means channeling the movement of capital, information, and goods and services can promote the relative flexibility and efficiency between the formal agreements and transactions made by family-run firms.<ref>{{Cite book |title=The Dynamic American Firm |last=Weidenbaum |first=Murray |publisher=Springer |year=2012 |isbn=978-1461313144 |publication-date= February 10, 2012 |page=80}}</ref> Business relationships are based on the Confucian paradigm of ''[[guanxi]]'', the Chinese term for the cultivation of personal relationships as an ingredient for business success.<ref name="handbook">{{cite book|author=Paz Estrella Tolentino|editor=H. W-c Yeung|title=Handbook of Research on Asian Business|url=https://books.google.com/books?id=lTfWutnFbfkC&pg=PA412|year=2007|publisher=Edward Elgar Publishing|isbn=978-1-84720-318-2|page=412}}</ref><ref>{{Cite web |url=https://research.vu.nl/ws/portalfiles/portal/1589314 |title=Templates of “Chineseness” and Trajectories of Cambodian Chinese Entrepreneurship in Phnom Penh* |website=Vrije Universiteit Amsterdam |pages=68}}</ref><ref>{{Cite book |title=The China Information Technology Handbook |last=Pablos |first= Patricia |publisher=Springer |year=2008 |page=201}}</ref> The bamboo network has been heavily influenced by [[Confucianism]], an ancient Chinese philosophy developed by philosopher [[Confucius]] in the 5th century BC that promotes [[filial piety]] and pragmatism with respect to the context of business.<ref name="Weidenbaum2328"/><ref>{{Cite web |url=https://research.vu.nl/ws/portalfiles/portal/1589314 |title=Templates of “Chineseness” and Trajectories of Cambodian Chinese Entrepreneurship in Phnom Penh* |website=Vrije Universiteit Amsterdam |pages=78 & 90}}</ref><ref>{{Cite web |url=https://research.vu.nl/ws/portalfiles/portal/1589314 |title=Templates of “Chineseness” and Trajectories of Cambodian Chinese Entrepreneurship in Phnom Penh* |website=Vrije Universiteit Amsterdam |pages=68 }}</ref> Guanxi has also been attributed to as a significant mechanism for the implementation of cooperative business strategies in the bamboo network.<ref>{{Cite book |title=Chinese Capitalism in Southeast Asia: Cultures and Practices |last=Santasombat |first=Yos |publisher= Palgrave Macmillan |year=2017 |isbn=978-9811046957 |pages=9}}</ref><ref>{{Cite book |title=Chinese Capitalism in Southeast Asia: Cultures and Practices |last=Santasombat |first=Yos |publisher= Palgrave Macmillan |year=2017 |isbn=978-9811046957 |pages=14-17}}</ref> For the Chinese, a strong network has always been an important pillar of Chinese business culture, following Confucianism's belief in the individual's inability to survive alone.<ref>{{Cite book |title=The China Information Technology Handbook |last=Pablos |first= Patricia |publisher=Springer |year=2008 |page=204}}</ref>


The bamboo network has served as a distinctive form of economic organization through which groups of ethnic Chinese entrepreneurs, traders, investors, financiers, and their family businesses, as well as closely-knitted business networks have gradually expanded and have come to dominate the economy of Southeast Asia.<ref>{{Cite book |title=Chinese Capitalism in Southeast Asia: Cultures and Practices |last=Santasombat |first=Yos |publisher= Palgrave Macmillan |year=2017 |isbn=978-9811046957 |pages=1}}</ref> The bamboo network also entails the structural substrate of companies, clans, and villages linked by ethnic ties of blood, family, and native place as part of a larger global bamboo network.<ref>{{Cite book |title=Chinese Capitalism in Southeast Asia: Cultures and Practices |last=Santasombat |first=Yos |publisher= Palgrave Macmillan |year=2017 |isbn=978-9811046957 |pages=9}}</ref> Having a common ethnic heritage, shared language, family ties, and ancestral roots have driven Overseas Chinese entrepreneurs to do business with one another rather than with their indigenous Southeast Asian counterparts in their host countries.<ref>{{Cite book |title=China's Economic Future: Challenges to U.S.Policy (Studies on Contemporary China) |last=Joint Economic Committee Congress of the United States |publisher= Routledge |year=1997 |isbn=978-0765601278 |pages=427}}</ref> Companies owned by the Overseas Chinese dominate the private business sectors in every Southeast Asian country today.<ref>{{Cite book |title=The Bamboo Network: How Expatriate Chinese Entrepreneurs Are Creating a New Economic Superpower in Asia |last= Weidenbaum |first=Murray L. |last2=Hughes |first2=Samuel |publisher=Free Press |year=1996 |isbn=978-0684822891 |pages=24}}</ref><ref>{{Cite book |title=China's Economic Future: Challenges to U.S.Policy (Studies on Contemporary China) |last=Joint Economic Committee Congress of the United States |publisher= Routledge |year=1997 |isbn=978-0765601278 |pages=428}}</ref> Many of the founders come from humble beginnings and possessed little initial wealth themselves, building their businesses from scratch and contributing to the local economy in the process. These budding Overseas Chinese entrepreneurs and investors started as street merchants, peddlers, hawkers and traders. Many would soon delve into real estate and then reinvested their gains into any business that they deemed profitable.<ref>{{Cite book |title=Business Networks in Asia: Promises, Doubts, and Perspectives |last=Richter |first=Frank-Jürgen |publisher=Praeger |year=1999 |isbn=978-1567203028 |pages=152}}</ref> Many of these small and medium sized businesses have evolved into gargantuan conglomerates, containing an umbrella of numerous interests organized in a dozen of highly diversified subsidiaries.<ref>{{Cite book |title=China's Economic Future: Challenges to U.S.Policy (Studies on Contemporary China) |last=Joint Economic Committee Congress of the United States |publisher= Routledge |year=1997 |isbn=978-0765601278 |pages=428}}</ref> From Thailand to Indonesia, ethnic Chinese business families oversee multi-billion dollar business empires that stretch from Shanghai to Kuala Lumpur to Mexico City.<ref>{{Cite book |title=World On Fire |last=Chua |first= Amy |publisher=Knopf Doubleday Publishing |year=2003 |isbn=978-0385721868 |pages=37}}</ref> Overseas Chinese entrepreneurs and investors are major players and have contributed substantially to the development of their host economies.<ref>{{Cite book |title=Business Networks in Asia: Promises, Doubts, and Perspectives |last=Richter |first=Frank-Jürgen |publisher=Praeger |year=1999 |isbn=978-1567203028 |pages=179-180}}</ref><ref>{{Cite book |title=The Bamboo Network: How Expatriate Chinese Entrepreneurs Are Creating a New Economic Superpower in Asia |last= Weidenbaum |first=Murray L. |last2=Hughes |first2=Samuel |publisher=Free Press |year=1996 |isbn=978-0684822891 |pages=24}}</ref><ref>{{Cite book |title=The China Handbook |last=Hudson |first= Christopher |publisher= Routledge |year=1997 |isbn= 978-1884964886}}</ref> Much of the business activity of the bamboo network is centered in the major cities of the region, such as [[Mandalay]], [[Jakarta]], [[Singapore]], [[Bangkok]], [[Kuala Lumpur]], [[Ho Chi Minh City]], and [[Manila]].<ref name="Weidenbaum8">{{cite book|author=Murray L Weidenbaum|title=The Bamboo Network: How Expatriate Chinese Entrepreneurs are Creating a New Economic Superpower in Asia|url=https://books.google.com/books?id=pcRlgZttsMUC|date=1 January 1996|publisher=Martin Kessler Books, Free Press|isbn=978-0-684-82289-1|page=8}}</ref>
The bamboo network has served as a distinctive form of economic organization through which groups of ethnic Chinese entrepreneurs, traders, investors, financiers, and their family businesses, as well as closely-knitted business networks have gradually expanded and have come to dominate the economy of Southeast Asia.<ref>{{Cite book |title=Chinese Capitalism in Southeast Asia: Cultures and Practices |last=Santasombat |first=Yos |publisher= Palgrave Macmillan |year=2017 |isbn=978-9811046957 |pages=1}}</ref> The bamboo network also entails the structural substrate of companies, clans, and villages linked by ethnic ties of blood, family, and native place as part of a larger global bamboo network.<ref>{{Cite book |title=Chinese Capitalism in Southeast Asia: Cultures and Practices |last=Santasombat |first=Yos |publisher= Palgrave Macmillan |year=2017 |isbn=978-9811046957 |pages=9}}</ref> Having a common ethnic heritage, shared language, family ties, and ancestral roots have driven Overseas Chinese entrepreneurs to do business with one another rather than with their indigenous Southeast Asian counterparts in their host countries.<ref>{{Cite book |title=China's Economic Future: Challenges to U.S.Policy (Studies on Contemporary China) |last=Joint Economic Committee Congress of the United States |publisher= Routledge |year=1997 |isbn=978-0765601278 |pages=427}}</ref> Companies owned by the Overseas Chinese dominate the private business sectors in every Southeast Asian country today.<ref>{{Cite book |title=The Bamboo Network: How Expatriate Chinese Entrepreneurs Are Creating a New Economic Superpower in Asia |last= Weidenbaum |first=Murray L. |last2=Hughes |first2=Samuel |publisher=Free Press |year=1996 |isbn=978-0684822891 |pages=24}}</ref><ref>{{Cite book |title=China's Economic Future: Challenges to U.S.Policy (Studies on Contemporary China) |last=Joint Economic Committee Congress of the United States |publisher= Routledge |year=1997 |isbn=978-0765601278 |pages=428}}</ref>
Many entrepreneurial Chinese immigrants have been attracted by the promise of great wealth and fortune while others driven by famine and war. Chinese merchants, craftsmen, and landless impoverished labors crossed the South China Sea to seek new lands to achieve their financial destinies.<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=84}}</ref> They formed Chinatowns for self-support, economic development, and promotion and protection of their business interests. Though there were immense hardships, many budding Chinese emigrant entrepreneurs through thrift, shred business savvy and investment acumen, discipline, and perseverance worked their way out of poverty to build a better life for themselves and their families.<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=84}}</ref> Large numbers of labored in rubber plantations and tin mines of Indonesia, Malaysia, and Thailand while others set up small provision shops to eke out a living for themselves.<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=84}}</ref>
Overseas Chinese businessmen that have shaped Southeast Asian business sphere in the twentieth century have spawned famous [[rags to riches]] success stories such Malaysian Chinese dealmaker [[Robert Kuok]], Chinese Indonesian billionaire [[Liem Sioe Liong]], and Hong Kong business magnate [[Li Ka-shing]].<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=84}}</ref> Many of these entrepreneurs come from humble beginnings and possessed little initial wealth themselves, building their businesses from scratch and contributing to the local economy in the process.<ref>{{Cite book |title=Redesigning Asian Business: In the Aftermath of Crisis |last= Richter |first=Frank-Jurgen |publisher=Quorum Books |year=2002 |isbn=978-1567205251 |pages=84}}</ref> These budding Overseas Chinese entrepreneurs and investors started as street merchants, peddlers, hawkers and traders. Many would soon delve into real estate and then reinvested their gains into any business that they deemed profitable.<ref>{{Cite book |title=Business Networks in Asia: Promises, Doubts, and Perspectives |last=Richter |first=Frank-Jürgen |publisher=Praeger |year=1999 |isbn=978-1567203028 |pages=152}}</ref> Many of these small and medium sized businesses have evolved into gargantuan conglomerates, containing an umbrella of numerous interests organized in a dozen of highly diversified subsidiaries.<ref>{{Cite book |title=China's Economic Future: Challenges to U.S.Policy (Studies on Contemporary China) |last=Joint Economic Committee Congress of the United States |publisher= Routledge |year=1997 |isbn=978-0765601278 |pages=428}}</ref> From Thailand to Indonesia, ethnic Chinese business families oversee multi-billion dollar business empires that stretch from Shanghai to Kuala Lumpur to Mexico City.<ref>{{Cite book |title=World On Fire |last=Chua |first= Amy |publisher=Knopf Doubleday Publishing |year=2003 |isbn=978-0385721868 |pages=37}}</ref> Overseas Chinese entrepreneurs and investors are major players and have contributed substantially to the development of their host economies.<ref>{{Cite book |title=Business Networks in Asia: Promises, Doubts, and Perspectives |last=Richter |first=Frank-Jürgen |publisher=Praeger |year=1999 |isbn=978-1567203028 |pages=179-180}}</ref><ref>{{Cite book |title=The Bamboo Network: How Expatriate Chinese Entrepreneurs Are Creating a New Economic Superpower in Asia |last= Weidenbaum |first=Murray L. |last2=Hughes |first2=Samuel |publisher=Free Press |year=1996 |isbn=978-0684822891 |pages=24}}</ref><ref>{{Cite book |title=The China Handbook |last=Hudson |first= Christopher |publisher= Routledge |year=1997 |isbn= 978-1884964886}}</ref> Much of the business activity of the bamboo network is centered in the major cities of the region, such as [[Mandalay]], [[Jakarta]], [[Singapore]], [[Bangkok]], [[Kuala Lumpur]], [[Ho Chi Minh City]], and [[Manila]].<ref name="Weidenbaum8">{{cite book|author=Murray L Weidenbaum|title=The Bamboo Network: How Expatriate Chinese Entrepreneurs are Creating a New Economic Superpower in Asia|url=https://books.google.com/books?id=pcRlgZttsMUC|date=1 January 1996|publisher=Martin Kessler Books, Free Press|isbn=978-0-684-82289-1|page=8}}</ref>


==History==
==History==

Revision as of 02:43, 12 March 2018

This article is about the business network. For the Cold War usage, see Bamboo Curtain.
Bamboo network
Map of the bamboo network
Legend
  Bamboo network
  Greater China region
Countries and territories Cambodia
 Indonesia
 Laos
 Malaysia
Myanmar Myanmar
 Philippines
 Singapore
 Thailand
 Vietnam
Languages and language familiesChinese, English, Burmese, Filipino Malaysian, Indonesian, Thai, Vietnamese and many others
Major citiesThailand Bangkok
Vietnam Ho Chi Minh City
Indonesia Jakarta
Malaysia Kuala Lumpur
Myanmar Mandalay
Philippines Manila
Cambodia Phnom Penh
Singapore Singapore
Laos Vientiane

The "Bamboo network" or the "Chinese Commonwealth" is a term used to conceptualize connections between businesses operated by the Overseas Chinese community in Southeast Asia.[1][2] The Overseas Chinese business networks constitute the single most dominant private business groups outside of Mainland China, Greater China, and East Asia.[3] It links the Overseas Chinese business community of Southeast Asia, namely Myanmar, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, and Singapore with the economies of Greater China (Mainland China, Hong Kong, Macau, and Taiwan).[4] Ethnic Chinese play a leading role in Southeast Asia's business sector as they dominate Southeast Asia's economy today and form the economic elite across all the major Southeast Asian countries.[5][6][7][8][9][10][11] The Chinese have been an economically powerful and prosperous minority than their indigenous Southeast Asian majorities around them for hundreds of years and today exert a powerful economic influence throughout the region.[12][13][14][15] Overseas Chinese wield tremendous economic clout over their indigenous Southeast Asian majority counterparts and play a critical role in maintaining the regions aggregate economic vitality and prosperity.[16][17][18][19] Since the turn of the 21st century, postcolonial Southeast Asia has now become an important pillar of the Overseas Chinese economy as the bamboo network represents an important symbol manifesting itself as an extended international economic outpost of Mainland China.[20][21]

Structure

Overseas Chinese businesses in Southeast Asia are usually family owned and managed through a centralized bureaucracy.[4][22] The businesses are usually managed as family businesses as they are passed down from one generation to the next.[4][23][24][25] Many firms generally exhibit a strong entrepreneurial spirit, intuitive, parsimonious, and fast decision making style, as well as paternalistic management and a continuous chain of hierarchical orders.[26][27] These firms typically operate as small and medium sized businesses rather than large corporate conglomerate entities typically dominant in other East Asian countries such as Japan and South Korea.[28] Trade and financing is guided on extensions of traditional family clans and personal relationships are prioritized over formal relationships. This promotes commercial communication and more fluid transfer of capital in a region where financial regulation and rule of law remain largely undeveloped in Southeast Asia.[29] Bamboo networks are also transnational, which means channeling the movement of capital, information, and goods and services can promote the relative flexibility and efficiency between the formal agreements and transactions made by family-run firms.[30] Business relationships are based on the Confucian paradigm of guanxi, the Chinese term for the cultivation of personal relationships as an ingredient for business success.[31][32][33] The bamboo network has been heavily influenced by Confucianism, an ancient Chinese philosophy developed by philosopher Confucius in the 5th century BC that promotes filial piety and pragmatism with respect to the context of business.[34][35][36] Guanxi has also been attributed to as a significant mechanism for the implementation of cooperative business strategies in the bamboo network.[37][38] For the Chinese, a strong network has always been an important pillar of Chinese business culture, following Confucianism's belief in the individual's inability to survive alone.[39]

The bamboo network has served as a distinctive form of economic organization through which groups of ethnic Chinese entrepreneurs, traders, investors, financiers, and their family businesses, as well as closely-knitted business networks have gradually expanded and have come to dominate the economy of Southeast Asia.[40] The bamboo network also entails the structural substrate of companies, clans, and villages linked by ethnic ties of blood, family, and native place as part of a larger global bamboo network.[41] Having a common ethnic heritage, shared language, family ties, and ancestral roots have driven Overseas Chinese entrepreneurs to do business with one another rather than with their indigenous Southeast Asian counterparts in their host countries.[42] Companies owned by the Overseas Chinese dominate the private business sectors in every Southeast Asian country today.[43][44]

Many entrepreneurial Chinese immigrants have been attracted by the promise of great wealth and fortune while others driven by famine and war. Chinese merchants, craftsmen, and landless impoverished labors crossed the South China Sea to seek new lands to achieve their financial destinies.[45] They formed Chinatowns for self-support, economic development, and promotion and protection of their business interests. Though there were immense hardships, many budding Chinese emigrant entrepreneurs through thrift, shred business savvy and investment acumen, discipline, and perseverance worked their way out of poverty to build a better life for themselves and their families.[46] Large numbers of labored in rubber plantations and tin mines of Indonesia, Malaysia, and Thailand while others set up small provision shops to eke out a living for themselves.[47]

Overseas Chinese businessmen that have shaped Southeast Asian business sphere in the twentieth century have spawned famous rags to riches success stories such Malaysian Chinese dealmaker Robert Kuok, Chinese Indonesian billionaire Liem Sioe Liong, and Hong Kong business magnate Li Ka-shing.[48] Many of these entrepreneurs come from humble beginnings and possessed little initial wealth themselves, building their businesses from scratch and contributing to the local economy in the process.[49] These budding Overseas Chinese entrepreneurs and investors started as street merchants, peddlers, hawkers and traders. Many would soon delve into real estate and then reinvested their gains into any business that they deemed profitable.[50] Many of these small and medium sized businesses have evolved into gargantuan conglomerates, containing an umbrella of numerous interests organized in a dozen of highly diversified subsidiaries.[51] From Thailand to Indonesia, ethnic Chinese business families oversee multi-billion dollar business empires that stretch from Shanghai to Kuala Lumpur to Mexico City.[52] Overseas Chinese entrepreneurs and investors are major players and have contributed substantially to the development of their host economies.[53][54][55] Much of the business activity of the bamboo network is centered in the major cities of the region, such as Mandalay, Jakarta, Singapore, Bangkok, Kuala Lumpur, Ho Chi Minh City, and Manila.[56]

History

The Overseas Chinese bamboo network has played a major role in invigorating the commercial life of Southeast Asia as postcolonial Southeast Asia has become an important pillar of the Overseas Chinese economy since the turn of the 20th century. Historically, the Chinese dominated trade and commercial life of Southeast Asia and have been an economically powerful and prosperous minority than their indigenous Southeast Asian majorities around them for hundreds of years long before the European colonial era.[57][58] More than 1500 years ago, Chinese merchants began to sail southwards towards Southeast Asia in search of trading opportunities and wealth. These areas were known as Nanyang or the Southern Seas. Many of those who left China were Southern Han Chinese comprising the Hokkien, Teochew, Cantonese, Hakka and Hainanese who trace their ancestry from the southern Chinese coastal provinces, principally known as Guangdong, Fujian and Hainan.[59] The Chinese established small trading posts, which in time grew and prospered along with their presence had come to control much of the economy in Southeast Asia. Unrest and periodic upheaval throughout succeeding Chinese dynasties encouraged further emigration throughout the centuries.[60] In the early 1400s, the Ming Dynasty Chinese Admiral Zheng He under the Yongle Emperor led a fleet of three hundred vessels around Southeast Asia during the Ming treasure voyages.[61] During his maritime expedition across Southeast Asia, Zheng discovered an enclave of Overseas Chinese already prospering on the island of Java, Indonesia. In addition, Foreign trade in the Indonesian Tabanan Kingdom was conducted by a single wealthy Chinese called a subandar, who held a royal monopoly in exchange for a suitable tribute with the remainder of the tiny Chinese community acting as his agents.[62][63][64]

Since 1500, Southeast Asia has been a magnet for Chinese emigrants where they have strategically developed a bamboo network that has transcended national boundaries.[65] The colonization of Southeast Asia by the European powers from the 16th to the 20th centuries opened up the region to large numbers of Chinese immigrants, most of whom originated from southeastern China. The largest of those were Hakka from the Fujian and Guangdong provinces.[66][67] Chinese emigrants from southern China settled in Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, and Vietnam to seek their financial destiny through entrepreneurship and business success.[34] They established at least one well-documented republic as a tributary state during the Qing dynasty, the Lanfang Republic that lasted from 1777 to 1884. Overseas Chinese populations in Southeast Asia saw a rapid increase following the Communist victory in the Chinese Civil War in 1949 which forced many refugees to emigrate outside of China causing a rapid expansion of the Overseas Chinese bamboo network.[56][68]

Economic aptitude

Throughout Southeast Asia, Overseas Chinese are an economically powerful dominant market minority that exercise a disproportionate amount of influence across the region relative to their small population.[69][70][71][72][73][74][75][76] Overseas Chinese entrepreneurs play a leading role and dominate commerce and industry throughout the economies of Southeast Asia at every level of society.[77] Comprising less than ten percent of the population in Southeast Asia, Overseas Chinese are estimated to control two-thirds of the retail trade in the region and own eighty percent of all publicly listed companies by stock market capitalization.[78] Eighty-six percent of Southeast Asia's billionaire's are of Chinese descent.[79][80] In 1991, The World Bank estimated that the total economic output of the Southeast Asia's Overseas Chinese was about US$400 million and rose to US$600 in 1996. Ethnic Chinese control 500 of the largest corporations in Southeast Asia with assets amounting to US$500 billion and additional liquid assets of US$2 trillion dollars.[81] The Overseas Chinese community collectively control virtually all of the regions most advanced and lucrative industries as well as its economic crown jewels.[82] Overseas Chinese gained even greater economic power in Southeast Asia during the second half of the twentieth century in the midst of capitalist laissez faire policies enshrined by the European colonialists that were conducive to Chinese middlemen.[83] Economic power held by the ethnic Chinese across the Southeast Asian economies exert a tremendous impact on the regions per capita income, vitality of economic output, and aggregate prosperity. The powerful economic clout and influence held by the Chinese have entirely displaced their rival indigenous Southeast Asian majority counterparts into economic submission.[84] The disproportionate amount of economic might held by the Overseas Chinese has led to resentment and bitterness among their indigenous Southeast Asian majority counterparts who feel that they cannot compete against ethnic Chinese businesses in free market capitalist societies. The immense wealth disparity and abject poverty among the indigenous Southeast Asian majorities has resulted hostility, resentment, distrust, and anti-Chinese sentiment blaming their extreme socioeconomic failures on the Chinese.[85] Many of their indigenous Southeast Asian majority counterparts have dealt with this wealth disparity by establishing socialist and communist dictatorships or authoritarian regimes to redistribute economic power more equitably at the expense of the more economically powerful and prosperous Chinese as well as giving affirmative action privileges to the indigenous Southeast Asian aborigine majorities first while imposing reverse discrimination against the Chinese minority to gain a more equitable balance of economic power.[86][87][88]

1997 Asian financial crisis

Governments affected by the 1997 Asian financial crisis introduced laws regulating insider trading led to the loss of many monopolistic positions long held by the ethnic Chinese business elite and weakening the influence of the bamboo network.[89] After the crisis, business relationships were more frequently based on contracts, rather than the trust and family ties of the traditional bamboo network.[90]

21st century

Following the Chinese economic reforms initiated by Deng Xiaoping during the 1980s, businesses owned by the Chinese diaspora began to develop ties with companies based in Mainland China. A major component of China's relationship with the Overseas Chinese is economic, as Overseas Chinese are an important of source of investment and financial capital for the Chinese economy.[91] Overseas Chinese control up to $2 trillion in cash or liquid assets in the region and have considerable amounts of wealth to stimulate China's growing economic strength.[92] Overseas Chinese also represent the biggest direct investors in Mainland China.[93] Bamboo network businesses have established over 100,000 joint ventures and invested more than $50 billion in China, influenced by shared and existing ethnic, cultural and language affinities.[94][95] Overseas Chinese also play a major role in the economic advancement of Mainland China where the relations between Mainland China and the Chinese diaspora in Southeast Asia are excellent and close ties are encouraged due to common ancestral origins as well as adhering to traditional Chinese ethics and values.[96] Since the turn of the 21st century, postcolonial Southeast Asia has now become an important pillar of the international Overseas Chinese economy.[97] In addition, Mainland China's transformation into a global economic power in the 21st century has led to a reversal in this relationship. Seeking to reduce its reliance on United States Treasury securities, the Chinese government through its state-owned enterprises shifted its focus to foreign investments. Protectionism in the United States has made it difficult for Chinese companies to acquire American assets, strengthening the role of the bamboo network as one of the major recipients of Chinese investments.[94]

See also

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Further reading

  • Chua, Amy (2003). World On Fire. Knopf Doubleday Publishing. ISBN 978-0385721868.
  • Folk, Brian C.; Jomo, K. S. (2003). Ethnic Business: Chinese Capitalism in Southeast Asia (1st ed.). Routledge (published September 1, 2003). ISBN 978-0415310116.
  • Weidenbaum, Murray L.; Hughes, Samuel (1996). The Bamboo Network: How Expatriate Chinese Entrepreneurs Are Creating a New Economic Superpower in Asia. Free Press. ISBN 978-0684822891.
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