Word: chi
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...Vietnam's best-known Buddhists against each other. The Unified Buddhists' patriarch, 87-year-old Thich Huyen Quang, who lives in a monastery in central Vietnam, has been ailing recently, but his deputy, Thich Quang Do, 77, has been a high-profile dissident operating out a monastery in Ho Chi Minh City (formerly Saigon) and proponent of Buddhism free of state control. (An estimated 80% of Vietnam's 84 million people are Buddhist, but after the Vietnam war the Communist Party folded the religion's many sects into one state-controlled church.) Quang Do smuggled his messages to his supporters...
...Chan Chi, a Hong Kong villager and former chef, who partly attributes his longevity to sexual abstinence...
...Trung, the engineer, is rushing to cash in while he can. He expects the unofficial market will eventually be regulated, curbing the potential for instant windfalls. To contain volatility, for example, the Ho Chi Minh Securities Exchange suspends trading in a stock when its price rises or falls by 5% in a day. Gray-market stocks can double in a single deal. "There are no rules on the OTC," says Trung, "so you can get huge profits. That's why we have to take advantage of it now." The madness of crowds, it seems, is alive and well...
...capitalist makeover, personal wealth remains a touchy subject. After online news site VNExpress recently produced the country's first-ever ranking of the 100 Richest People in Vietnam, several moguls complained. "I wish they would have asked us before publishing," groused Nguyen Duy Hung, CEO of a Ho Chi Minh City brokerage firm who was ranked the country's sixth-richest person with stock worth $58 million. A prominent law professor speculated that miffed tycoons might be able to sue for invasion of privacy. Even ordinary citizens were affronted. "A person's assets should be his private secret," wrote...
...once was. As recently as five years ago, many wealthy Vietnamese officials took pains to disguise their net worth; they rode motorbikes to work and turned assets into gold bars that were hidden in their modest homes. "Society was not in favor of rich people," says Pham Chi Lan, an economist in Hanoi. "They did not dare expose their wealth." Today, BMWs and Mercedes are frequently seen on the streets of Hanoi, and there's a construction boom of luxury villas. The annual publication of a list of the country's richest people seems like just another capitalist milestone...