Source | Mustang Finance

But in three years, Wan Hongjian, the eldest son of Shuanghui Empire, was “kicked” out of the core power circle by his father, Bandung. His second son, Wan Hongwei, had a play?

Recently, Wanzhou International (0288.HK), the world’s largest pork processing company, suddenly announced that it intends to remove Wan Hongjian from the positions of executive director and vice president, with immediate effect.

The reason for the recall was that Wan Hongjian had recently committed an “improper attack” to the company’s property, making the company believe that he was “unable to perform his responsibilities as a director, prudence and diligence.”

▲ Picture source: Wanzhou International Announcement As soon as the announcement came out, there was an uproar. Wan Hongjian is the eldest son of Wanlong, the founder of Wanzhou International, and has been in the company for many years. . It is worth noting that the inscription of this dismissal announcement is: “Bandung, Chairman and Chief Executive Officer of Wanzhou International Co., Ltd. by order of the board of directors”, which means that this is a “recall order” signed by Bandung himself. What happened between the 81-year-old founder and the 52-year-old eldest son? How will Wanzhou International’s scepter handover plan follow up? Only 16 days have passed since the high vote was elected In China’s pork products industry, no one can match Shuanghui. Under Bandung’s iron fist, Shuanghui has grown from a small meat factory on the verge of bankruptcy to a multinational giant with an annual sales revenue of more than 20 billion U.S. dollars. Bandung is also known as the “king of pigs” and “the world’s number one butcher”. . Bandung, now in its elder age, still owns two listed companies, Shuanghui Development (000895.SZ) and Wanzhou International, with a total market value of more than RMB 190 billion. ▲Image source of Bandung: the company’s official website Wan Hongjian, the eldest son of Bandung, was once regarded as the successor of the “Pork Empire”. Public information shows that Wan Hongjian was born in 1969. From 1990 to 2010, he started as a front-line worker in the deli workshop, and then successively served as the sales director of the Beijing office of the sales department of Shuanghui Group and the deputy director of the foreign trade department. Since February 2012, he has served as Deputy General Manager, Director of International Trade Department, and Vice President of Rotex, the parent company of Shuanghui Development. In 2018, Wan Hongjian was elected as the executive director of Wanzhou International and entered the core decision-making level. At the Wanzhou International Shareholders’ Meeting on June 1, 2021, Wan Hongjian had just been re-elected as an executive director, with 91.1% of the votes in favor, which was even higher than the 75.2% of his father, Bandung. At this time, there are still 16 days before he is removed… ▲Image source: Wanzhou International Announcement After this vote, Wanzhou International immediately announced its intention to repurchase 1.917 billion shares at a price of HK$7.8 per share, involving a capital of HK$14.95 billion. The purpose is to optimize the company’s capital structure, increase the earnings per share of the shares, and reduce the group’s capital cost. Generally speaking, if the stock repurchase plan from public shareholders goes well, the shareholding of listed companies will increase, and the corresponding right to speak will be even greater. As the eldest son, Wan Hongjian is not associated with many companies under the Shuanghui Department. According to Tianyan, he only worked in Guangzhou Shuanghui Commercial Chain Co., Ltd. (hereinafter referred to as “Guangzhou Shuanghui”), Qingyuan Shuanghui Commercial Investment Co., Ltd. (hereinafter referred to as “Qingyuan Shuanghui”), and Wuhu Shuanghui Import and Export Trade Co., Ltd. (hereinafter referred to as “Wuhu”). Shuanghui”) has served as a shareholder and executive. In addition, he has served as the legal representative of Luohe Industrial Investment. Among them, Wan Hongjian is the largest shareholder of Qingyuan Shuanghui. Through this company, he controls 14.67% of Guangzhou Shuanghui’s shares, but both companies have been cancelled. Wuhu Shuanghui, where he served as an executive, is still in existence and is controlled by Rotex. Who will take over? With Wan Hongjian’s sudden dismissal, the succession issue of the Shuanghui system will become complicated and confusing again. Regarding the issue of succession, Bandung said in an interview with CBN in March 2015 that it had already considered ten years ago that it must be resolved through mechanisms. When the succession team matures in 2017, they will withdraw. “I will solve this problem first from the mechanism. The first is to quantify the standards, and the corresponding levels must meet the corresponding standards, that is, to bear the corresponding responsibilities; the second is to compete for posts. All managers at all levels are competing for posts, and A special assessment mechanism is required to be assessed every month and every year. It is precisely because of this set of methods that successors and management teams must rely on this mechanism to generate them.” Bandung said. In March 2018, Wanzhou International announced that the vice president Wan Hongjian was appointed as an executive director. Only a few months later, Wan Hongjian was promoted to vice chairman of the board of directors and held multiple positions at the same time. While Wan Hongjian was entrusted with the important task, Wan Hongwei’s second son Wan Hongwei was also nominated as a non-independent director candidate for the board of directors of Shuanghui Development. According to the data, Wan Hongwei was born in 1973, has a bachelor’s degree, and is a Hong Kong resident. In his early years, he was the director of the Hong Kong branch of Shuanghui Group, the deputy manager of Shuanghui Group Import and Export Company, and the secretary to the chairman of Shuanghui Group. This also means that both Bandung sons have entered the core management of Wanzhou and Shuanghui, which is interpreted by the media as Bandung is preparing for retirement. At the beginning of 2019, Shuanghui Development announced that it intends to issue shares to Rotex, the sole shareholder of the controlling shareholder Shuanghui Group, and rarely adopts the acquisition method of absorbing and merging the parent company by subsidiaries, with the intention of realizing the overall listing of Shuanghui Group. This is also another major capital operation undertaken by Bandung after the acquisition of Smithfield and the promotion of the listing of Wanzhou International. Public information shows that the shareholding structure of Shuanghui Development is quite complicated. Its ultimate actual controller is Xingtai Group Co., Ltd. (hereinafter referred to as “Xingtai Group”) registered in the British Virgin Islands. Its specific shareholding structure is: Xingtai Group holds Xiongyu Investment holds 100% of the shares. Xiongyu Investment is the largest shareholder of Wanzhou International listed in Hong Kong. Wanzhou International holds 100% of Rotex through its wholly-owned subsidiary, Glorious Link, and Rotex holds 100% of Shuanghui Group. % Equity, Shuanghui Group holds Shuanghui Development. Exploring all the way down, from Xingtai Group to Shuanghui Development, its shareholding structure has as many as seven layers. A financial person familiar with Shuanghui told Yema Finance, The overall listing of Shuanghui Group through mergers and acquisitions is an optimization of the equity relationship between Shuanghui Development, Wanzhou International and Xingtai Group by Bandung for its succession plan, which is conducive to strengthening its family’s control over Shuanghui Group. ▲Photo by Yema Finance After Wan Hongjian’s related positions were removed, Wanzhou International currently has only four executive directors: Bandung, Guo Lijun (CFO), Dennis Pat Rick Organ (President and Chief Executive Officer of Smithfield Foods), and Ma Xiangjie (Henan Shuanghui Investment Development) President of the company limited by shares). Wanlong’s second son, Wan Hongwei, also served as an assistant to the chairman of Wanzhou International, but was not a member of the board of directors. The eldest son is frustrated, will the second son Wan Hongwei be pushed to the front? China Food Industry Analyst Zhu Danpeng told Yema Finance, Bandung is more cautious and suspicious. Wan Hongjian’s dismissal is not just about performance, but also some deep-seated problems, including strategy and business philosophy. “So I think Bandung’s youngest son will go to the front of the stage. .” In addition, there are also reports that Wan Zihao, the grandson of Bandung, had served in Shuanghui as early as the vice president of Shuanghui Development. Tianyancha shows that a person named Wan Zihao serves as a director in all seven companies under Shuanghui. However, in the Shuanghui Development Announcement, Wan Zihao’s name was not retrieved. The chairman of the board of directors is still controlled by Bandung, and the “successor candidate” seems unclear. It’s not uncommon to “destroy the long and raise the young” Fathers start their own businesses, and there are many “family succession” paths passed down by their children, and it is not uncommon for second sons to succeed. Linyuan Group is the largest private enterprise group in Taiwan. It was founded by well-known Taiwanese entrepreneur Cai Wanlin. Its predecessor and core company is Cathay Life Insurance. The “Cai Family” represented by Cai Wanlin is Taiwan’s top consortium and Taiwan’s leading financial capital. In July 1995, the US “Forbes” announced the world’s top ten richest people. Cai Wanlin ranked sixth in the world with 8.5 billion US dollars, and was once the world’s richest Chinese. On September 27, 2004, Cai Wanlin unfortunately passed away at the age of 81. Linyuan Group is now succeeded by Cai Hongtu, the second son of Cai Wanlin. According to the data, Cai Hongtu is 69 years old this year, graduated from the Department of Law of National Taiwan University, and later went to the United States for further study. At the age of 28, he obtained a doctor of law and returned to China. At the age of 38, he formally took over the post of chairman of Cathay Life Insurance from his father Cai Wanlin. Cai Hongtu is not the only “second generation” who was born with a golden spoon, studied abroad, and returned to the country to inherit his father’s career. Recently, the China Securities Regulatory Commission’s “Advance Notice of Administrative Penalties and Market Banning” has brought Yihua Life, a listed furniture company and the Chaoshan wealthy Liu Shaoxi family behind it, to the attention of the public. According to the “Administrative Punishment Letter”, after investigation, the China Securities Regulatory Commission determined that Yihua Life’s periodic reports from 2016 to 2019 contained serious false records, and the former chairman Liu Shaoxi was prohibited from entering the securities market for life. Liu Shaoxi is a Chaoshan capital boss. He was born in woodworking in his early years. With the enthusiasm of Chaoshan people to “work hard to win” for many years, Yihua Life has been transformed from a small furniture factory into the first private enterprise in Shantou. It is understood that in Chenghai District, Shantou, there is a jingle, “Chenghai Sanmo die (in dialect, meaning can’t die), Xuemin, must filial piety, Liu Shaoxi.” It means that the three people, including Liu Shaoxi, are in this small place in Chenghai. Turn your hands for the clouds and cover your hands for the rain, and you can’t die. Yihua Life is a typical Chaoshan family business. Many companies under the “Yihua Department” have Liu Shaoxi’s family. Liu Shaoxi’s eldest son Liu Zhuangqing is responsible for the health and capital sectors of the “Yihua Department”; Liu Shaoxi’s second son Liu Zhuangchao takes over Yihua Wood; Liu Shaosheng, the younger brother of Liu Shaoxi, once took over the real estate sector of the “Yihua Department”. Among them, the second son, Liu Zhuangchao, inherited the life in Yihua, the origin of the “Yihua family”. According to data, Liu Zhuangchao went to study in the United States when he was 16 years old. After graduating in 2010, he was only 22 years old and joined the Yihua Life management team. In 2017, Liu Zhuangchao was elected as the chairman of the new board of directors of Yihua Life. At that time, Liu Zhuangchao took the top position of the “Yihua Department” at the age of 29. The “second generation” of Chaoshan family businesses and the real estate company Hesheng Chuangzhan. Zhu Jurong, 32, is the jewel in the hands of Zhu Mengyi, founder of Hopson International. Zhu Jurong started working as an assistant to the president in the company as early as 2009, when he was 20 years old. In 2012, she was appointed as executive director and executive vice president, and was promoted to vice chairman of the board of directors in 2013. On January 10, 2020, Zhu Jurong took over the burden of Zhu Mengyi and became the new chairman of the board of directors of Hopson Chuangzhan. It is understood that Zhu Jurong has two older brothers, both of whom are also working hard in the family business. Some analysis pointed out that Chaoshan people have a tradition of “preferring boys to girls”. Zhu Mengyi’s ability to hand over important listed real estate companies in the hands of young women is evident in his preference for his daughters and Zhu Jurong’s strength. The quasi “post-85” born in finance did not disappoint his fathers. In the first year at the helm, he handed over a beautiful report card in equity investment, which is a typical “one generation engaged in industry and the second generation invested.” Hesheng Chuangzhan, which she is in charge, bought shares of Ping An Insurance, Xiaomi Group, Ping An Health, HSBC Holdings, and China Mobile. As of November 19 last year, except for China Mobile’s loss of HK$186 million, all other stocks have achieved profitability. It brought a book profit of over 3.7 billion Hong Kong dollars for Hopson Development, or about 3.1 billion yuan. For comparison, in the first half of 2020, Hopson Development’s net profit was HK$5.1 billion. If we take HK$3.7 billion as the net profit yardstick for real estate companies, only 22 real estate companies outperform Hopson Chuangzhan, but their revenue is much higher than Hopson Chuangzhan. But not all private companies will choose family members to succeed, compared to how to enjoy the Midea Group, which has a market value of more than 500 billion yuan. Although the sons, daughters, and daughters-in-law of the He family are all talents, the business of Midea mainly relies on the team of professional manager Fang Hongbo. Midea Group’s 2020 semi-annual report data shows that Fang Hongbo, chairman and president, will receive 9.63 million yuan of pre-tax remuneration from the company in 2020; vice presidents Yin Bitong, Gu Yanmin, and Zhu Fengtao will be 7.65 million yuan, 3.48 million yuan, and 4.94 million yuan respectively. yuan. “Sharing” may be the most important secret of “beauty”. ▲He Xiangjian Picture Source: Midea’s official website Li Delin, the well-known financial big V and the founder of Delin News, told Yema Finance, The most critical aspect of Midea’s succession issue is to “manage one’s own power and make good use of the people who can use it.” The He family has mastered the equity and control rights, and made good use of a team of professional managers like Fang Hongbo. And the most important question under the diversified expansion of the United States is whether it can find the second and third Fang Hongbo. Midea Group may be the most adept at using professional managers in the entire A-share listed company, and family members have built a huge “Midea Department” through investment and collaboration. According to incomplete statistics from Yema Finance, the He family members currently control 8 listed companies, including 6 A-shares, 1 Hong Kong stocks, 1 Germany, and 1 NEEQ company. They have also participated in more than 10 financial companies. Institutions spanning manufacturing, automotive, medical, real estate, environmental protection, film and television, finance and other industries, and are still expanding… This model also brings enlightenment to many family-owned private enterprises facing inheritance problems in the A-share market ! Which succession model is most suitable for family-owned private enterprises? Welcome to leave comments.

Generation change in Gütersloh Liz Mohn hands over power to Bertelsmann

As of: June 21, 2021 1:48 p.m.

An era ends at the Bertelsmann media group: On her 80th birthday, Liz Mohn officially hands over responsibility for the clan empire to her son Christoph.

By Thomas Spinnler, tagesschau.de

It’s an exciting year for the Mohn family and thus also for Europe’s largest media group Bertelsmann from Gütersloh, which has been under the family’s control for almost 200 years. A few days ago, Liz Mohn announced that she would be handing the fate of Bertelsmann in the hands of her son Christoph on her 80th birthday today. Liz Mohn has been the spokesperson for the Mohn family since 2002, which directly holds around 20 percent of the company. This position is now taken over by Christoph Mohn – as well as the chairmanship of the steering committee of Bertelsmann Verwaltungsgesellschaft (BVG), in which the family’s voting rights are bundled. This guarantees him control of the entire group via a right of veto and allows him to determine the strategic direction to a large extent. The remaining 80 percent or so of the capital shares in Bertelsmann SE & Co. KGaA are held by foundations such as the Bertelsmann Foundation, the Reinhard Mohn Foundation and the BVG Foundation. Liz Mohn is now also stepping down from the board of the influential Bertelsmann Stiftung.

“My husband was my teacher”

Liz Mohn determined the fortunes of the media empire for a long time. She originally started at Bertelsmann as a secretary. At the age of 17 she met the then company patriarch Reinhard Mohn at a company party and finally married him in 1982.

Then she began to take on tasks in the group with his support. “My husband was my teacher,” wrote the jubilee. Reinhard Mohn took over C. Bertelsmann Verlag in 1947 in the fifth generation and expanded it into a media group. He died in 2009. It was up to Liz Mohn to help shape the change to a digital media company and to determine it in a responsible position.

Largest book publishing group in the world

What kind of company is it that the 80-year-old is now handing over to her son Christoph? The business of the media group already starts with the children. It is active on the education market with the Bertelsmann Education Group. Bertelsmann expects a lot from the growing demand for e-learning.

The group also includes Penguin Random House, the world’s largest consumer publishing group with more than 300 independent book publishers, and the magazine publisher Gruner + Jahr, which is responsible for titles such as “Stern”, “Geo”, “Brigitte”, “Essen & Trinken” or ” Beautiful living “is known.

TV group as a source of revenue

The RTL Group, in which Bertelsmann holds a majority stake of 75 percent, with the channels RTL, RTL 2, Vox and NTV, provides the largest share of group sales. Then there is BMG, the fourth largest music publisher in the world. The second largest group division – measured in terms of sales – is the service company Arvato, which operates call centers and organizes financial services, IT services and logistics for its customers. A total of around 130,000 employees work for the media group worldwide. In the past 2020 financial year, it generated sales of 17.3 billion euros. The “Billionaires-Index” of the news service Bloomberg estimates the current fortune of Liz Mohn at 7.5 billion dollars.

In the sixth generation

Liz Mohn was honored with the Great Cross of Merit of the Federal Republic of Germany in 2010 for her social commitment. Mohn donated, among other things, a singing competition and campaigns for stroke victims. The Bertelsmann Foundation is one of the largest foundations in Germany and, according to its own statements, invested 74 million euros in charitable projects last year. It was founded in 1977 by the corporate patriarch Reinhard Mohn. Critics accuse her of pursuing the interests of the group with her influence.

The new family spokesman Christoph Mohn takes over the reins of the Gütersloh group, which has its roots in the printing of religious works, in the sixth generation. In addition to the 55-year-old and Liz Mohn, their daughter Brigitte is also represented on the steering committee of the Bertelsmann management company

Speaking to lead the discussion, Associate Professor, Dr. Le Van Loi said that Comrade Ho Tung Mau was born on June 15, 1896, in Quynh Doi village, Quynh Luu district, Nghe An province, his birth name was Ho. Ba Cu. With great will and patriotism, in 1920, he left his hometown to work abroad, named Ho Tung Mau and became the official name until his death. In 1923, comrade Ho Tung Mau founded Tam Tam commune, gathering enthusiastic young people with the same direction, sacrificing personal interests, and plotting together to liberate the nation. In November 1924, the Tam Tam commune group was helped by Nguyen Ai Quoc to redirect its activities, build a revolutionary organization in the right direction, and comrade Ho Tung Mau became his effective and reliable partner. He actively participated in the establishment of the Vietnam Revolutionary Youth Association, making important contributions to the birth of the Communist Party of Vietnam in the spring of 1930. In June 1931, he was arrested by secret agents in Shanghai, sentenced to life in prison. In March 1945, when the Japanese coup d’etat France, Ho Tung Mau escaped from prison and continued to do revolution, participating in the General uprising to seize power in 1945. After the success of the August Revolution, comrade Ho Tung Mau was The Party and State assign many responsibilities. On July 23, 1951, on the way to work, comrade died due to being bombed by French planes. Associate Professor, Dr. Le Van Loi assessed, with more than 50 years of life, 31 years of exciting and arduous revolutionary activities, including many years of struggle in the imperial prison, Ho Tung Mau is a among the communist veterans, typical of the Vietnamese Party and revolution; was a close, effective and reliable student and collaborator of President Ho Chi Minh; made great contributions to the revolutionary cause of the Party and the nation, was posthumously awarded the Ho Chi Minh Order and the Gold Star Order by the Party and State. At the seminar, experts, scholars and participants focused on in-depth discussion, analysis and clarification of some contents in the life and revolutionary career of Ho Tung Mau such as: the influence of tradition homeland, family to the formation of personality, revolutionary will of comrade Ho Tung Mau; Comrade Ho Tung Mau – an example of a faithful and indomitable communist in imperial prisons; Comrade Ho Tung Mau and the struggle against negative and recessionary manifestations; Comrade Ho Tung Mau with Party building work; Ho Tung Mau – an effective and reliable partner of Ho Chi Minh… Speaking at the Seminar, Associate Professor, Dr. Bui Dinh Phong commented: Comrade Ho Tung Mau is a brave and resilient patriot and revolutionary. The bravery of the patriot and revolutionary Ho Tung Mau was clearly demonstrated by his absolute loyalty to the Party’s revolutionary cause, the cause of national liberation, and the tenacious struggle for independence and freedom. for the Fatherland, happiness for the people, national liberation, class liberation, human liberation; always shown as a true patriot and revolutionary. He was also an indomitable revolutionary soldier before the enemy; repeatedly arrested by the French colonialists, twice sentenced to death, imprisoned in many prisons of the colonial empire; was tortured, but comrades did not waver in spirit. For 31 years of revolutionary activities, of which 14 years in imperial prisons, comrade Ho Tung Mau has clearly demonstrated that he is a communist senior, loyal, truly immersed in the masses, devoted his life to the Fatherland. country, for the people. Expressing his views on the example of Ho Tung Mau, a loyal and indomitable communist in imperial prisons, Associate Professor, Dr. Tran Minh Truong, former director of the Ho Chi Minh Institute and leaders of the Party, said that In his life of glorious but dangerous revolutionary activities, comrade Ho Tung Mau was repeatedly arrested and imprisoned in the imperial colonial prison. Overcoming the tricks of repression, terrorism, bribery, seduction, torture…, Comrade Ho Tung Mau set a bright example of indomitable will and loyalty for revolutionary ideals. In 1927, he was first arrested by the Chiang Kai-shek government and then detained three times; in 1931 he was arrested and deported; was sentenced to death by a French court twice, then reduced to life hard labor. But prison did not stop the revolution; the manipulation and bribing of factions did not deviate from the revolutionary path; No matter how difficult the circumstances, comrade Ho Tung Mau did not change his chosen goal and path of struggle. The participants at the seminar all agreed that during his whole life of dedication to the revolution, the faithful communist soldier with a pure moral example Ho Tung Mau always showed himself as an upright, loyal cadre. willing to perform tasks with high responsibility, selflessly work with a peaceful, simple and generous manner, having great prestige among the people. Until the last minute of his life, Comrade Ho Tung Mau has always been worthy of the trust that the people, the Party and President Ho Chi Minh have entrusted.

According to the SCMP , besides stylish fashion style, reality TV star Bling Empire – Christine Chiu – has long spared no money to buy branded goods for his son Gabriel. The image of the son of a Chinese female millionaire next to a supercar or wearing expensive clothes is no longer strange online. Image: @christine_chiu88 . Owning a fortune of $80 million and a high fashion collection, it is not too difficult to understand when Christine Chiu always chooses clothes from the world’s top brands such as Givenchy, Dolce & Gabbana or Burberry for her children. boy. Photo: @christine_chiu88. Each type of designer outfit in the boy Gabriel’s wardrobe costs from 300 USD or more. Therefore, if you include Gabriel’s clothes, shoes, accessories, and set of clothes, it will be of no small value. Photo: @christine_chiu88. Compared to Christine Chiu , Kim Lim – the only daughter of Singapore billionaire Peter Lim – rarely posts pictures of her son on her personal page. However, every time Kyden is “on the air” by his mother, he impresses the online community with branded clothes from head to toe. Image: @ kimlimhl . Kyden’s clothes are quite simple, often just revolving around comfortable, age-appropriate clothes. However, all of them come from world-famous fashion houses such as Dior, Balenciaga, Givenchy… Photo: @kimlimhl. In mid-2020, the daughter of the richest man in Malaysia Vincent Tan – Chryseis Tan also became the focus of attention when giving a Gucci handbag priced at $1,280 to guests who correctly guessed the gender of their first child. Image: @chrystan_x. Then, when her daughter was just a few months old, Chryseis Tan bought several Dior bags worth more than $3,000 as welcome gifts for little Arianna. Although it is difficult to recognize Arianna’s brand of clothes, netizens still think that they are of great value because she often wears the same clothes as her parents – a couple who are famous for their stylish lifestyle among the rich. . Photo: @chrystan_x. More famous from reality TV show Bling Empire – Cherie Chan – is a female millionaire with an estimated net worth of $200 million. In addition to spending on herself and her taste in fashion, Cherie Chan isn’t afraid to buy her daughter Jadore everything from Gucci dresses to Louis Vuitton blankets. Image: @ cherieofficial . With the expectation of taking over the family’s property in the future, little Jadore soon wears a gorgeous princess-like dress or expensive accessories. Photo: @cherieofficial.

In human society, we give and exchange what we need to maintain life is an indispensable daily activity of each individual. More than that, from the perspective of the entire human race, commercial exchanges have become such an indispensable part of today’s world, so much so that each person forgets to depend on them so much that Come on. Just take a minute looking around the room you are sitting in, or look through the top of your desk and ask yourself how much of it is made by you yourself, and you have the answer. word. How commercial activities have an impact on the history of human society is summarized in the book: Trade history – How trade shaped the world ? (Original name : A splendid exchange: How trade shaped the world ) by William J. Bernstein. He is a neuroscientist, an expert in financial and investment theory, and also a researcher in economic history. The book focuses on two main contents: the first is the formation and development of commercial activities; The second is the impact of trade on the shaping of human society throughout history as well as the world today. WJBernstein recounts commercial history from the earliest steps, when people came up with the idea of ​​genius and it was also very natural to exchange what was in surplus for what they needed or liked but didn’t have, in when others have ego, it’s time for commerce to have shape and scale later on. The process of formation began from the cradle of human civilization in Mesopotamia to the formation of the oldest trade routes and then evolved into a complex network stretching from the Roman Empire in the west to the emperor. Han Empire in the East. Next was the disruption of East-West trade on the mainland as the two empires declined and Islam arose from the Middle East and spread influence, becoming the center of global trade for a long time. At the same time, maritime trade with the Indian Ocean was a major trade route that flourished, replacing the ancient Land Silk Road as the economic lifeblood of the world. Besides the overall picture of the ups and downs of trade history, WJBernstein analyzes the interaction between trade with political, social and other natural factors. For example, the geographical structural differences between the Mediterranean and the Indian Ocean lead to different economic-political, naval strategies thinking among Mediterranean civilizations (such as the Greek). Greece with civilizations participating in the Indian Ocean trading system (Islamic countries in the Middle East, Indian sub-states, Southeast Asia and China). At the same time, he offers interesting examples of times when economic, political and religious interests conflict, forcing rulers to make choices. For example, the famous story when Venice Governor Enrico Dandolo used all his tricks to bring the Crusader army to attack and sack Constantinople, Venice’s influential competitor, instead of attacking Egypt, his partner. commercial importance of Venice, as the Crusaders expected. And not only conscious human endeavors, but at times nature plays an important role in the course of history. The fourteenth century Black Death plague devastated both Christian Europe and the Muslim Middle East, but the consequences were different. The epidemic weakened feudalism in Europe, gave freedom of thought and trade a chance to develop, while at the same time making Islamic civilization severely irreversibly damaged, paving the way for turn in global trade advantage from East to West. In Trade history refers to characters, both famous and anonymous, who contributed to the making of commercial history. It was an anonymous Mesopotamian businessman whose letter on earth kept evidence of a transaction thousands of years ago. It was Vasco da Gama, it was Columbus, the restaurants that paved the way for Europe to regain control of the world. Or Richard Cobden, a pioneer in the fight for free trade thought in the UK in particular and around the world in general. Trading is not only about exchanging goods, but also about competing for the market, competing for monopoly on trading of goods with great profit. Contact between people belonging to far away countries also means the exchange of deadly pathogens. Merchant crews contributed to the spread of the Black Death in Europe. Spanish expeditions made many peoples of the Americas extinct because of the pathogens they carried. Competing for markets, fighting for strategic commodity resources has been the main cause of most wars from ancient times, from the Peloponnese to two bloody World Wars in the twentieth century. WJBernstein has neutrally recounted the story of commerce and its impact on human society, fully pointing out the bright and dark sides of this story. More importantly, we all know this is an ongoing story, and understanding the past is probably the best, if not the only, way to make the future of the dark side of trade possible. control is better, and on the bright side, commercial benefits bring people, to be promoted more thoroughly.

From legend to reality In the summer of 2020, the owner of the pub Cervercería Giralda decided to renovate his property during a time of absence due to road construction and the impact of the pandemic. After layers of paint, plaster and ceiling, characteristic colorful geometric patterns and stars gradually emerged. The 12th century Islamic-style sauna was discovered in a famous pub in Seville, Spain. Photo: El Pais. Before that, many local legends and some historical documents suggest that the site may have been an ancient sauna. However, the majority of respondents believe that Giralda’s nostalgic architecture has a hint of neomudéjar style (a type of Moorish architecture commonly found in the Iberian peninsula), or Islamic style. This pub and hotel was rebuilt by architect Vicente Traver on the structure of an old building in the early 1920s. Antonio Castro, one of four co-owners of Giralda, said: “It is rumored that there are many old bathhouses here. However, not all historians agree with that hypothesis, some people did not accept it until later. We are doing some reconstruction work, some archaeologists have participated, and that’s how this bathhouse was discovered. ” “A fateful arrangement of differences” Archaeologist Álvaro Jiménez was one of those who believed that ancient bathhouse rumors were just myths. However, in July 2020, his team was gouging plaster on the ceiling when they discovered many eight-pointed star-shaped skylights. “As soon as we saw the openings in the ceiling, we knew immediately what the precursor of this room was. It cannot be anything but a bathroom, ”Mr. Jiménez said. Eight-pointed star-shaped skylights characterize 12th-century Muslim bathhouses. Photo: Álvaro Jiménez. According to the Guardian The design dates back to the 12th century, when the Almohad Muslim empire ruled much of what is today Spain, Portugal and parts of North Africa. “Generally speaking, this bathhouse has more intact decorations than any known bathhouse on the Iberian peninsula,” said archaeologists. “Everything here is decorated, and fortunately, they still exist today. The base of the wall is white mortar, engraved on it with geometric lines, circles and squares. The most characteristic of the bathrooms is the paintings of red ocher painted with stars and eight-pointed asterisks. These two motifs are interleaved with each other, corresponding to them are sky well holes of similar shape ”, Mr. Jiménez described. The star-shaped pattern and the eight-pointed asterisk that decorated the bathroom were covered with plastering lime. Photo: Álvaro Jiménez. Currently, Giralda still needs to be chiseled out of the lime coating to be able to reveal all the underlying architecture. This old sauna and pub is undergoing further maintenance and repair. It will reopen within two or three weeks. Mr. Jiménez described this finding as “a fateful arrangement of differences”. He said Giralda is reborn to become a miracle. Mr. Castro and his partners expect this discovery to open a new chapter to Giralda’s history. They also hope the pub will bring a new experience to customers. “This place used to be just a pretty famous pub. But now, people will enjoy beer or wine in a 12th-century pub and sauna. It’s great that the architect who built this pub in the 1920s respected the architecture of the bathhouse. . Had it been in someone else’s hands, this place might have been leveled and rebuilt. We are grateful to him, ”he shared.

Rihanna has collaborated with several famous brands such as Dior, Manolo Blahnik, Stance Socks, Puma and River Islan. However, independent projects are what sets her apart in the fashion and beauty fields, according to her WWD . Behind the name Fenty Beauty Rihanna’s first business – Fenty Beauty – has launched an unprecedented 40-tone line of foundation creams, setting a new standard for diversity. Voice Diamonds want women everywhere to be able to use it, regardless of skin color or style. The brand launched in 2017 in partnership with Kendo Beauty division from luxury group LVMH. This “handshake” allows Rihanna to leverage her marketing and product development savvy into the beauty industry. Rihanna’s love for makeup began when she was a child. Photo: V Magazine. One of the benefits of this combination is access to all sales data from Sephora as well as other LVMH beauty brands. The partnership with LVMH gives Fenty Beauty the infrastructure needed to launch the brand globally. After years of playing among the best makeup products in the industry, Rihanna has seen a “void” for products that are suitable for all women of all skin tones. That is the inspiration behind Fenty Beauty. “I always love looking at my mother and all her funny expressions in front of the mirror. The first time I put on makeup was when I was 16 for a school beauty contest. Since then, I can never look back at my skin without foundation, “the businesswoman shared Time. Rihanna’s beauty brand was named one of the magazine’s best inventions of 2017 Time . By 2019, Fenty Beauty launches products with 50 shades. This helps her brand stand out from its competitors. Rihanna’s beauty brand is widely supported. Photo: Getty. Fenty Beauty has produced products of higher quality than its competitors. In 2014, Rihanna registered a trademark for Fenty Beauty. She spent more than 2 years creating the right recipes before the product dropped in price. Entrepreneurs born in 1988 never want the brand to become a project in a hurry. One girl even cried while hitting Rihanna’s foundation because it matched her skin color. The first release products are considered by many to be reasonably priced and accessible to a wide range of customers. After a month of launch, Fenty Beauty has reached a turnover of 72 million USD. Get rich with lingerie brands Following the success of the beauty brand, Rihanna continues to launch lingerie brand Savage x Fenty (established in 2018) in partnership with TechStyle. Savage x Fenty has 90 underwear, pajamas and accessories models in many colors and sizes. Within a month, 90 product styles of the brand were sold out. Since she couldn’t find the right nude lingerie to wear in her see-through dress back in 2014, Rihanna wanted to supply products for all skin tones. This product line carries a positive message about the body. Savage x Fenty is not meant to please men. The brand emphasizes “fearlessness, confidence and inclusion”. Its presence serves as a wake-up call for lingerie retailers around the world. Most companies are constantly striving to create the personality of their buyers, targeting focused to help them segment the market. Song Rihanna ignored that trend. This is the key to her success. Rihanna continues to use the same strategy as Fenty Beauty for the lingerie brand. Photo: The Impression. Fenty Senior Vice President Jennifer Rosales – explains Savage x Fenty for everyone. “Everything she does makes people feel beautiful. They feel empowered, empowered, to be the best version,” Jennifer Rosales said. During the 2019 fashion show, the brand introduced many models, including transsexuals, with disabilities, with different body sizes. According to Jennifer Rosales, Rihanna goes against what is considered the norm. “Technically, Savage x Fenty 2019 is a fashion show. But Rihanna is not remake of the things that existed on the catwalk. She has raised the show concept. If the world turns right, we will. go in the opposite direction, “said senior vice president. Not stopping at female audiences, Rihanna also targets male customers. The businesswoman once again broke the barrier on the show Savage x Fenty Vol.2. An oversized male model performs at her first men’s underwear collection. The brand’s website also features many oversized male models. This decision attracts interest from the online community, encouraging men with large bodies to feel sexy. Rihana’s lingerie show includes an oversized model, older … Photo: Getty, Harper’s Bazaar, Vogue. Besides, actress Demi Moore, Luenell also participated in the show. Rihanna ensures that all sex, body size, and age have the ability to shine. According to the Inc It is the attention to the smallest details that makes a big difference in the minds of customers. “Everything is thought through in detail,” said the voice We Found Love share in documentaries. In mid-February, Forbes said Rihanna’s lingerie brand reached a valuation of $ 1 billion through a fundraising round. Before this round of fundraising, her estimated stake in the company was about $ 80 million. Last year, Rihanna’s lingerie brand saw over 200% revenue growth and increased the number of VIP members by more than 150%. While with Fenty Beauty, Forbes Rihanna’s stake is estimated to be worth $ 375 million. Rihanna has made history as the first woman to create an original brand at LVMH.

Rosé has always been named as a prominent representative of the fashion K-Pop community. Rosé’s “leap” in fashion must include the role of Saint Laurent’s global brand ambassador, which she recently assumed. Rosé’s reputation and beauty make her completely worthy to be the new brand ambassador for luxury brand Tiffany & Co. As a newcomer, the female singer joined the ranks with Lupita Nyong’o, Elle Fanning, and Dich Duong Thien Ty. Sharing with Vogue, “The Singer On the Ground” said, “I’ve worn Tiffany’s jewelry since I was in high school. Being a part of an iconic brand has been a part of my life for a long time that makes it so much more special. I am very honored and excited. ” The Tiffany HardWear line is inspired by the liberal, thorny New York. The designs this time have a strong, angular look, based on the 1971 bracelet model. Perfectly demonstrating the spirit of the collection that inspires strength and confidence, Rose wears gold jewelry. 18k and rose gold with the emphasis on pavé diamonds. Explaining the decision to choose Rosé for the new campaign, the brand representative said that because the female idol has a bold personality and modern style, it is very consistent with the identity of Tiffany Hardware.

Jade Nguyen A healthy body, tanned skin and a bold Asian face create the unique character of the 20-year-old model. This French – Vietnamese girl was chosen to perform in the show of famous fashion houses such as Chanel, Dior, Louis Vuitton. Mid-2020, she gets the magazine Vogue Voted one of the 5 most prominent models in Jacquemus’s show. Signing a contract with Elite Model – a famous model management company in the world, Jade Nguyen promises to become a name that is sought after by the “big men” in the fashion industry like Asian sisters. Share with ELLE In France, she said she really wanted to visit Vietnam – her father’s hometown. Image: Vogue, Listal. Trinity Dang Trinity Dang was born in San Jose (USA) in 1991. The model has appeared in famous men’s magazines such as Maxim, FHM, Esquire and Import Tuner . She fell in love with her modeling career when she was asked by a friend who is a photographer to take a photo test, according to her Datingcelebs . The female model can speak fluently in 3 languages: English, Spanish and Vietnamese. Having a height that is not too outstanding, Trinity still attracts many fans thanks to its attractive body. Image: import tuner, vinhmanphoto, christopherquyen, @trinitydang. Kim Lee According to the SCMP 32-year-old model makes many people overwhelmed when appearing in Bling Empire – The show explores the life of Asian super-rich people in America in January. She entered the entertainment industry as a model when she was a teenager. Initially, Lee wanted to try his luck as a trainee at a company based in Los Angeles, USA. However, this company quickly asked her to take pictures in front of the camera. By 2011, the men’s magazine FHM In Singapore, Lee was named the sexiest woman in the world. She has appeared in major magazines such as Maxim, GQ, Vanity Fair, ELLE … In addition to modeling, she is currently acting as a DJ and an actress. In the interview with Esquire Lee said: “I really don’t consider myself a model despite shooting for many magazines.” Image: @kimlee, Genlux, Marie Claire, L’Officiel. Jessica Minh Anh The world-famous supermodel and show producer of Vietnamese origin turn epic places like Tower Bridge, Eiffel Tower or high glass bridge over Grand Canyon into fashion runways SCMP . She built a fashion career right after graduating. “I believe the finest designs should be on display in the best places. I’m constantly searching for the most unique locations that amaze the whole world,” she said in an interview with CNN . Image: @jessicaminhanh.

Niagara Falls (located on the border between the United States and Canada). In the photo is the Niagara Falls in 1859. A wooden bridge near the waterfall was built in 1827 so visitors can stand admiring the beautiful scenery on the water. The bridge immediately attracted tourists from both the Americas and Europe.

The Great Sphinx of Giza (Egypt) 4,500 years old statue located on the Giza Plateau on the west bank of the Nile in Egypt. A mythical figure portrayed as a lion’s head, the Sphinx was buried to the shoulder by sand until the early 1800s, when a group of explorers tried to dig out. A further dig in the 1930s cleared the sand completely. The above photo taken in 1882 shows the body of the statue still partially buried.

Statue of Liberty (New York City, USA) This famous statue was first not placed in New York, in fact it was on display at the Paris World Fair in 1878 (pictured), before France awarded to America in 1886 to commemorate the alliance between the two countries during the American Revolution.

Eiffel Tower (Paris, France) .The Eiffel Tower was built from 1887-1889 to commemorate the 100th anniversary of the French Revolution and welcome the 1889 World Exhibition. The above photo was taken in 1889. Today, the Eiffel Tower attracts about 7 million tourists per year.

Buckingham Palace (London, England). In the photo is Queen Victoria’s Diamond Festival in 1897. Buckingham Palace is one of Britain’s most famous landmarks and has been the official royal residence since 1837.

Forbidden City (Beijing, China). The Forbidden City is a royal palace with a large construction scale of over 720,000 m2. The Forbidden City was built between 1406-1420 and was recognized as a world cultural heritage by UNESCO in 1987. The photo above was taken in 1908, the Forbidden City.

The Angkor Wat complex (Siem Reap, Cambodia) .The temple complex of Angkor Wat is said to be the largest religious architecture in the world, covering an area of ​​162.6 hectares and includes more than one thousand buildings. in 1910 with Apsara dancers in traditional costumes outside the temple.

Hollywood sign (city Los Angeles, California state, USA). The Hollywood sign used to be labeled “Hollywoodland” as seen in the photo taken in 1925. In 1949, the signboard omitted the word “land”.

Times Square (New York City, USA). Times Square of the 1920s (pictured) is a far cry from today, with very few flashing lights and billboards. Originally, this place was called Longacre Square and was renamed Times Square in April 1904.

Golden Gate Bridge (San Francisco, California, USA). The photo above was taken on May 24, 1937, a few days before the official opening and a small number of journalists were allowed to cross the bridge. Today, about 100,000 vehicles cross the bridge every day.

Empire State Building (New York City, USA). The image above is when the building is under construction in 1931. It was the tallest building in the world until the 1970s, when the World Trade Center won this position.

Matterhorn Mountain (in the Swiss Alps) In the photo is a tourist resting on an observation point on the Italian slopes in the 1950s.

Mount Everest (located between the border between Nepal and Tibet on the roof of the world in the Himalayas). In the photo shows a climber looking out over Mount Everest from one of the surrounding streets in 1955.

Taj Mahal Temple (Agra, India) The Taj Mahal was built in 1632 by Mughal emperor Shah Jahan in commemoration of his wife. This is one of India’s most popular attractions, usually welcoming about 3 million tourists a year. Pictured is the peaceful scene of the temple in 1960.

Leaning Tower of Pisa (Florence, Italy). Historically, Italy has experienced many earthquakes, earthquakes with great destructive power. The leaning tower of Pisan is still standing tall over time after four earthquakes from the 13th century. The ground is the reason why the tower is tilted. But it also helps the tower survive major earthquakes. The image above was taken in the 1960s when researchers from the Institute of Topography and Geodesy at the University of Pisa took annual measurements to check the inclination of the tower.