market dominant minority

  • The World is Still on Fire

    Before writing a controversial book on Asian parenting, Amy Chua wrote a very good book called World on Fire – How exporting free market democracy breeds ethnic hatred and global instability (2003). Her key point in the book – borne of personal experience as well as extensive research – is that in most countries outside of the United States and Western Europe, economic power is held by an ethnic minority group. She refers to them as MDM (market-dominant minority). For instance, in Chua’s country of origin (the Philippines), the ethnic Chinese make up 1% of the population but control 60%