| Subject: Successful Chinese Business People in Tonga, Philippines and Asia |
Author:
Cora
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Date Posted: 12/17/01 1:49pm PST
I found this sad story in the Nov. 27 Sydney Morning Herald (http://www.smh.com.au/news/0111/27/text/world14.html) regarding hundreds of Chinese businessmen and their families being expelled from Tonga because of their success in business. Indigenous Tongans are attacking and kidnapping them, and burning their shops out of jealousy. The news says Chinese goods are sold at cheaper prices and stores are open around the clock to ensure their good performance. On the other hand, the native-owned shops are being run inefficiently.
We must emulate these Chinese for their admirable entrepreneurial spirit. We can't deny that they are the real experts in this area. No wonder why they own the largest and most profitable businesses in big cities in the Philippines, like Manila and Cebu, as well as in other countries.
Filipino Vocabulary of the Day:
Intsik: noun (derogatory) - Chinese
Tsinoy, also Chinoy: noun - Filipino of Chinese origin
Tsinay, also Chinay: noun - Chinese Filipina
Tsinoy Trivia:
Ethnic Chinese comprise only 2% of the total population of the Philippines. However, they direct half of all listed companies in the Philippine stock market.
Eight out of 12 billionaires from the Philippines on Asia's list of the 100 richest people are of Chinese extraction: Tan Yu (Fuga Internationale Group); George Ty (Metrobank); Henry Sy (SM Prime Holdings); Lucio Tan (Fortune Tobacco, Philippine Airlines); Andrew Gotianun Sr. (Filinvest Group); John Gokongwei (JG Summit); Alfonso Yuchengco (House of Investments); and Eduardo Cojuangco Jr. (UCP Bank, San Miguel Corp.)
Sources: http://www.access-a.com.au/course/t100byc.htm; http://news.bbc.co.uk/hi/english/world/asia-pacific/newsid_1514000/1514916.stm
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