CHAPTER TWENTY

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The New Superpower: The Overseas Chinese

NEWSPAPERS AND MAGAZINES IN the United States, in Europe, and in Japan are full of stories about the new billionaires: the handful of overseas Chinese who have built huge multinationals, headquartered mostly in Hong Kong, Taipei, or Singapore, but also in Thailand, Malaysia, and Indonesia. Actually, these “tycoons,” though highly visible and individually superrich, are only the small tip of an enormous iceberg. Largely invisible—and carefully shunning publicity—are a great many more multinationals owned by overseas Chinese. Most are mid-size; typically their sales worldwide run to several ...

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