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Chinese networks and enterprise development: Malaysian investments in China

Abstract This study assesses the argument that common ethnic identity has facilitated the creation of transnational business networks leading to the rise of a new economically powerful “global tribe” comprising ethnic Chinese from East and Southeast Asia. The primary contention in this article is that a network with the economic clout of a “global tribe” would entail interlocking stock-ownership ties, a sharing of resources and cooperation to the point of merger. Through an in-depth analysis of investments in China by ethnic Chinese from Malaysia, this article proves that even major Chinese-owned companies have little or no interlocking stock ownership and directorate links, either domestically or across borders, with other Chinese-owned companies. The growing inflow of investments into China by ethnic Chinese from Southeast Asia is primarily due to endeavours by government leaders in the region and China to encourage businesses to invest in the Mainland.