Victor Zheng Livres

Challenging the conventional view that equal inheritance stifles the growth of Chinese family businesses, the author explores the interplay of economic and human capital, including education, leadership, and social networks. By examining these factors, the book offers a nuanced perspective on how inheritance practices can actually contribute to the success and sustainability of family enterprises in China.

Four years after the actual implementation of its casino deregulation policy, Macao has surpassed Las Vegas as the world’s top gambling destination in terms of annual turnover. Also, various recent surveys have put Macao at the very top of the list in terms of per capita GDP, as its economy grew shortly after the resumption of Chinese sovereignty. How could a tiny city without any natural resources on the southern coast of China have managed to achieve such a miraculous level of development? This book presents an unparalleled study of Macao’s economic dynamism and its gambling industry not only by merging historical and current developments, but also by presenting solid subjective and objective indicators and evidence. It offers an indispensable resource for students, researchers, and general readers looking to understand Macao’s gambling miracle.