Tuesday, 17. February 2004
Topic: LOST FOUND - on February 17, 2004 at 10:43:00 AM CET
Clans on the Run
As a new generation takes over, Asia's richest business families are being forced to change their cloistered, Confucian ways.
Name a Japanese corporate colossus and chances are it started as a family firm: Kikkoman, Mitsubishi, Sumitomo, Toyota. If you go shopping or catch a movie in Manila, you'll doubtless enter a leisure palace decreed by the megawealthy Sy or Ayala clans. Hundreds of millions of Indians garb themselves daily in cloth made by the Ambanis or Wadias. Residents of Hong Kong can barely avoid contributing to the coffers of billionaire Li Ka-shing and his sons, who control office towers, supermarkets, electronics outlets and telephone companies.
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