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This book disputes the traditional argument that the equal inheritance system hinders the growth of Chinese family business, approaching this not only in terms of economic capital, but also in terms of human capital such as education and leadership, and social networks. Zheng argues that most of the family business patriarchs only focus on the passing on economic capital, but give little attention to human capital and social capital when the come to the stage to transfer control to the next level. It further elaborates that the equal inheritance system itself isn’t the destructive force that weakens family business competitiveness, but can assist economic development by generating dynamism and capital. Based on extensive primary research, the work discusses how equal division encourages sibling comparison, analysing how such comparisons initially generate stress and anxiety but will ultimately galvanize competition, benefiting the business. The author also assesses how family division can offer initial economic human and social capitals that can motivate siblings to start their own businesses and be free from the subjugation sometimes associated with a family firm. Through the evaluation of these issues the book argues that the equal inheritance system can be regarded as the origin of the self-employment mentality, which not only fosters the growth of Chinese family business by plays crucial role in promoting economic development. Providing a valuable contribution to the field, this work will be of great interest to all scholars of Chinese and Asian business.
Japanese troops seized and brutally occupied New Guinea’s capital, Lae, for 18 months – until 16 September 1943. That day Australian soldiers retook the town against fierce resistance. Defeated, and after suffering huge losses, 8000 Japanese soldiers fled across the formidable 4000-metre mountains behind the town ; 2000 died on the nightmare trek. In a groundbreaking publication, independent professional historian Dr. Ian Howie-Willis unveils the untold story of 'Operation Postern' and its significant impact on the Pacific War. His latest book sheds light on the recapture of Lae, the capital of New Guinea, from Japanese forces on 16 September 1943. Through meticulous research, Dr. Howie-Willis brings to life the heroic efforts of Australian soldiers, the harrowing experiences of the Japanese retreat, and the often-overlooked plight of the Papua New Guinean village communities caught in the crossfire. Japanese troops had seized and ruthlessly occupied Lae for 18 months until the fateful day of the Australian soldiers' counteroffensive. Despite fierce resistance, the town was retaken, forcing the Japanese to retreat across treacherous 4000-meter mountains behind the area. Tragically, 2000 Japanese soldiers lost their lives during this nightmarish trek. Referred to as a turning point in the Pacific War, 'Operation Postern' shattered the Japanese belief that they could maintain control over the New Guinea mainland. Their continual retreat paved the way for subsequent successful Allied campaigns in the South-West Pacific theatre. However, victory came at a high cost, with over 2000 casualties within a fortnight for the Allies, while Japanese losses exceeded that number nearly fourfold. The exact toll on the Papua New Guinean village people remains unknown but undoubtedly significant. Dr. Howie-Willis challenges previous military histories that have marginalized the Papua New Guineans, highlighting their essential role as the "third party" to the conflict. By focusing on the village communities, he illuminates the horrific impact of the war on their lands and lives, offering a comprehensive and inclusive narrative. "Operation Postern" provides readers with an opportunity to revisit and reinterpret this crucial battle that shaped the course of history. Dr. Howie-Willis' extensive knowledge and meticulous attention to detail make this book a valuable contribution to the understanding of the Pacific War.