The impact of the Asian crisis on diaspora Chinese tycoons

The paper argues that business culture is a core aspect of diaspora Chinese identity, and that transnational business success is a major source of resistance to national assimilation. The paper focuses on the threat posed by the Asian crisis, and on its impact on the transnational business activities of Chinese tycoons. It examines evidence about the impact of the crisis on the wealthiest tycoon families of the Chinese diaspora, using the Forbes Magazine annual ranking of the world's billionaires. The analysis demonstrates considerable absolute and relative loss of wealth by Chinese tycoons but also points to Survivors and newcomers, and it explores the strategies of these and the extent of their geographic and sectoral restructuring. (C) 2002 Elsevier Science Ltd. All rights reserved.