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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: synchro who wrote (1453)	3/20/1998 6:13:00 AM
From: Stitch	Read Replies (1) \| Respond to of 2951

synchro, WARNING: HISTORY IN CONTENT I am not sure what press reports you are reading. Perhaps you refer to Indonesia where ethnic Chinese have been targeted by muslims in riots, primarily in Java. In Indonesia ethnic Chinese make up some 3 or 4 % of the population while they own some 70% of the wealth. This causes resentments that spill over into violence. In Malaysia on the other hand ethnic Chinese account for approximately 32% of the population. As in Indonesia Chinese here are business leaders but, since the formation of the Federated Malay States which predates independence, there have been so called "Bumiputera" laws that economically favor the Malay (Bumiputera means "son of the land"). For example, all corporations were required to have more then 51% ownership by a Bumiputera. In addition Malays received favorable tax treatment and government services and programs. This was designed to offset the economic "advantages" that the Chinese had (through the superior enterprising and industriousness). Throughout Britsh domination the Chinese were seen as colonialist collaborators, which they likely were, enjoying the fruits of business and corruption that were a part of the colonial makeup. This system has kept a kind of truce in the country and there has been good collaboration among all the ethnic groups as Malaysia has grown and prospered. The last major crisis was in 1969 when election frictions spilled into the streets and racial violence took the lives of many people. Is there strain? Yes, of course. But it is the type that is whispered and is not nearly as pronounced as it is in Indonesia. You may review a good historical overview at: aseanfocus.com Best regards, Stitch