Chinese businesses and networks across the globe to focus on new business opportunities to collaborate and concentrate on. Common industry sectors of focus include real estate development, engineering, textiles, consumer electronics, financial services, food, semiconductors, and chemicals. Besides sharing a common ancestry, cultural, linguistic, and familial ties, many Filipino entrepreneurs and investors of Chinese ancestry are particular strong adherents of the Confucian paradigm of interpersonal relationships when doing business with each other, as the Chinese believed that the underlying source for entrepreneurial and investment success relied on the cultivation of personal relationships. Moreover, Filipino businesses that are Chinese-owned form a part of the larger bamboo network, a business network of Overseas Chinese firms operating in the markets of Greater China and Southeast Asia that share common family, ethnic, linguistic, and cultural ties. With the spectacular growth of varying success stories witnessed by a number of individual Chinese Filipino business tycoons and investors have allowed them to expand their traditional corporate activities beyond the Philippines to forge international partnerships with increasing numbers of expatriate Mainland Chinese and Overseas Chinese investors on a global scale. Instead of quixotically diverting excess profits elsewhere, many Filipino entrepreneurs of Chinese ancestry are known for their penurious and parsimonious ways by eschewing improvident extravagance and conspicuous consumption but instead adhere to the Chinese paradigm of being frugal by reinvesting a substantial surplus of their business profits for the purpose of corporate expansion. A sizable percentage of the conglomerate firms managed by capable Filipino entrepreneurs and investors of Chinese ancestry with the necessary entrepreneurial acumen and visionary foresight were able to germinate from small budding enterprises to making headway into gargantuan corporate leviathans garnering widespread economic influence across the Philippines, Southeast Asia, and the global financial markets. Such massive corporate expansions engendered the term "Chinoy", which is colloquially used in Filipino newspapers to denote individuals with a degree of Chinese ancestry who either speak a Chinese dialect or adhere to Chinese customs. In 1940, Filipinos of Chinese ancestry were estimated to control 70 percent of the country's entire retail trade and 75 percent of the nation's rice mills. By 1948, the economic standing of the Chinese community began to elevate even further wielding considerable influence as the Chinese community exercised a considerable percentage of the total commercial investment, including 55 percent of the retail trade and 85 percent of the lumber sector. After the end of the