Macao Bringing in the Cash

June 12, 2012

In 1535, Portuguese traders obtained the rights to anchor ships in Macau’s harbors and to carry out trade.  Then in 1557, they established a permanent settlement there. Moreover, this Western love affair for Macau has not ended. Analysts reported that total public revenue for January 2012 rose by 21.5% when compared to the same month in 2011, and it is all thanks to gambling tax revenue. Source: Calvin Ayre.com

Since Macau was returned to China in 1999, it has overtaken Las Vegas to become the world’s biggest gambling mecca. Since 1999, Macau, along with Hong Kong, is one of the two special administrative regions of the People’s Republic of China, and it is situated on the western side of the Pearl River Delta across from Hong-Kong.

The next building trend was to expand into a global entertainment and high-end shopping hub along with leisure activities leading to tourism with gambling leading the way.

However, gambling remains Macao’s main moneymaker. Almost every business depends on gambling to survive.

In addition to gambling and tourism, Macao includes some manufacturing, and the days of Chinese Triads having shooting wars for control of the streets have gone.

Instead, Macao has become a territory where Chinese democracy advocates may speak out without fear and become elected to Macao’s legislature.

The PRC has promised not to meddle in Macao’s politics. One thing is apparent— many in Macao want the economy to have diversity that does not depend on gambling alone. However, MGM Resorts International’s net profit doubled to HK$3.28 billion from HK$1.57 billion—boosted by strong growth in casino revenues, which tells us that gambling is still king in Macau. Source: The Wall Street Journal

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Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

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Note: This edited and revised post first appeared November 20, 2010

4 Comments | business, capitalism, China, Communism, democracy | Tagged: , , , , , , , | Permalink
Posted by Lloyd Lofthouse

Macao a decade after Handover to China

November 20, 2010

The last decade has seen Macao’s gambling industry grow at supersonic speeds.

Since Macau was returned to China in 1999, it has overtaken Las Vegas to become the world’s biggest gambling mecca.

The next building trend was to expand into a global entertainment and high end shopping hub along with leisure activities, but that has not matched the success of gambling.

Gambling remains Macao’s main money maker. Almost every business depends on gambling to survive.

However, the days of Chinese Triads having shooting wars for control of the streets have gone.

Instead, Macao has become a territory where Chinese democracy advocates may speak out without fear and become elected to Macao’s legislature.

The PRC has promised not to meddle in Macao’s politics. 

One thing seems apparent. Many in Macao want the economy to have diversity that does not need to rely on gambling.

Learn about crime and the Chinese Triads in Macao

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.

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1 Comment | capitalism, China, Chinese Culture, economy, politics, tourism | Tagged: , , , , , , , | Permalink
Posted by Lloyd Lofthouse

China Securing Its Future (1/3)

August 14, 2010

This three part series is about the reasons behind a new weapon China is developing. This weapon is known as the DF21D, which will be described in part 3.

Suppose that the United States had just ended a century of conflict that started when several foreign nations sent naval/military power halfway around the world to force America to accept cocaine as a product to be sold to all Americans without restrictions.

The United States loses the struggle against this drug being sold to American citizens, and during the next century, more than fifty-million Americans die from more wars indirectly caused by the nations behind the drugs while a third of Americans becomes addicted to the drugs.

As this century of drug and wars end, the same nations invade Mexico and Canada. By the time the wars in Mexico and Canada end, 10 million Canadians and Mexicans have been killed by the invading armies.

For China, what I’m describing is not a “what if”.

Starting in 1839, China fought two Opium Wars and lost about 50,000 troops while the invading nations lost 3,000. The invaders were from the UK, France and, for a limited time, the US. 

These nations forced China’s emperor to allow them to sell opium to his people ruining millions of lives and wrecking families due to drug addiction. 

These invading nations also built enclaves and cities in China—Shanghai, Hong Kong, Macau and others.

Imagine China controlling San Francisco, Seattle and New York. How would most American’s feel?

In fact, Western nations are indirectly responsible for an 1850 rebellion started by a Chinese Christian convert who claimed to be the younger brother of Jesus Christ. When the Taiping Rebellion ended, 20 million civilians and combatants were dead.

See more about The Opium Wars

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too. 

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Posted by Lloyd Lofthouse