businesses. With the Hoa's economic clout, it was noted by 1983 that more than 60 percent of southern Vietnam's bourgeoisie were of Chinese ancestry. The Chinese controlled the entire rice paddy market and obtained up to 80 percent of the bank loans in the south. Furthermore, Hoa entrepreneurs and investors also owned 42 of the 60 corporations having a large annual turnover of more than 1 million dong and investments accounted for two-thirds of the total investment in South Vietnam. Reunification and Doi Moi (1975–present) Following Vietnam's reunification in 1976, the socialist and revolutionary Vietnamese government began using the Hoa as a scapegoat for their socio-economic woes. The revolutionary government referred to the enterprising Chinese as "bourgeois" and perpetrators of "world capitalism." Brutal draconian policies instituted against the Chinese involved the "Employing the techniques Hitler used to inflame hatred against the Jews" as reported by the U.S. News & World Reports Ray Wallace in 1979, led many Hoa being persecuted by fleeing the country or succumbing to death after laboring in Vietnam's so-called "new economic zones." Despite undergoing many years of persecution by the socialist Vietnamese government, the Hoa have begun to reassert and regain much of their economic clout that they once previously held in the Vietnamese economy. Since the early 1980s, the Vietnamese government has gradually reintegrated the Chinese community into laying the groundwork for Vietnam's mainstream economic development. The open-door policy and economic reforms of Vietnam coupled with the country's improved relations with neighboring Southeast Asian countries has resuscitated the entrepreneurial presence and economic clout that the Hoa previously held with regards to the vital roles that they once predominantly played across Vietnam's economy. By 1986, the Hoa were actively encouraged to take part in parlaying the economic development of Vietnam. Since then, the Hoa have once again begun contributing significantly to the expansion of Vietnamese internal markets and capital accumulation for small-scale industrial business development. In the 1990s, the commercial role and influence of Hoa in Vietnam's economy have rebounded substantially since the introduction of Đổi Mới as the Vietnamese government's post-1988 shift to a capitalist-based free-market liberalization that has led to an astounding resurgence of Chinese economic dominance across the country's urban areas. Across the country, enterprising Hoa entrepreneurs and investors have re-asserted their previous economic influence. In Ho Chi Minh City alone, Hoa entrepreneurs are responsible for generating 50 percent of the city's commercial