By Wai-Chung Yeung
Chinese language Capitalism in a world period examines the dynamic ways that thousands of ethinic chinese language in East and Southeast Asian economies set up their financial actions. It analyses how chinese language capitalism has replaced below stipulations of up to date globalization and anticipates what the long run holds for it. The booklet demanding situations the traditional proposal of chinese language cpitalism as 'crony capitalism', established round kinship networks and untouched via globalization.
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Extra info for Chinese Capitalism in a Global Era: Towards a Hybrid Capitalism (Routledge Advances Ininternational Political Economy, 12)
There is a ‘pervasive, powerful and persistent’ belief that capitalism and individualism are inherently related, even though they originated separately and at different times. As a set of historically speciﬁc cultural practices, families, networks and communities in Chinese capitalism are continuously evolving in response to different challenges and circumstances. Thus, Yang (2002: 469; original italics) argued that ‘it is better to treat guanxixue [the practice of relationships] not as an innate timeless given of Chinese culture, but as a historically situated set of cultural practices whose features and discourse have different meanings and different deployments in given historical moments and political contexts’.
First, many ethnic Chinese in Southeast Asia have entered into patron–client relationships with ruling military and political leaders. It is commonly acknowledged that the rise of Liem Sioe Liong in Indonesia, Robert Kuok in Malaysia, 30 Hybrid capitalism Lucio Tan in the Philippines and Chin Sophonphanich in Thailand can be attributed to their close relationships with key politicians and military leaders in respective countries. They were often offered either privileged access to monopolized markets and resources or outright political protection against the tide of discriminatory practices at the state level.
Rational industrial capitalism, which in the Occident found its speciﬁc locus in manufacturing, has been handicapped not only by the lack of a formally guaranteed law, a rational administration and judiciary, and by the ramiﬁcations of a system of rights to collect revenue, but also, basically, by the lack of spiritual foundations. Above all it has been handicapped by the attitude rooted in the Chinese ‘ethos’ and peculiar to a class of ofﬁcials and aspirants to ofﬁce. (Weber,  1983b: 82–4; my emphasis) In his 1976 introduction to Weber’s The Protestant Ethic and the Spirit of Capitalism, Anthony Giddens (1992: xv) summarized succinctly Weber’s view that Confucian values set as an ideal the harmonious adjustment of the individual to the established order of things .
Chinese Capitalism in a Global Era: Towards a Hybrid Capitalism (Routledge Advances Ininternational Political Economy, 12) by Wai-Chung Yeung