In his book The Last Kings of Shanghai, Jonathan Kaufman tells the story of two Jewish families who helped open China to international trade, making fortunes in the process. Sarah Abrevaya Stein sums up their rise in her review:
They dealt in silks, spices, cotton, jewels, carpets, opium, metals, and horses; they built buildings, docks, and railways. Their reach extended from their home, Ottoman Baghdad, across the British empire and Qing dynasty, throughout South and East Asia and beyond. They built company towns with schools, stores, and hospitals, where they trained young men to join their mercantile ranks. They commanded their own ships and forged relations with other merchants as well as with representatives of states. Over centuries, the Sassoon family crafted a global empire, which was navigated for generations in the family’s native tongue, Judeo-Arabic.
The Kadoorie family would come to exceed the Sassoons in wealth, but their mercantile roots grew in soil tilled by the Sassoons. Four Kadoorie sons joined the migratory flow of young men who journeyed from Baghdad to Bombay, Shanghai, and Hong Kong (and well beyond) in the employ of the Sassoons. Most of these entrepreneurial merchants would never command more than middling wealth, but the Kadoories broke from the norm. Through investments in rubber, real estate, stocks, and electricity, the Kadoories built an empire of their own, which—whether through shrewdness or chance—proved more durable than the one that spawned it.
Stein finds Kaufman’s account filled with color, but sometimes lacking in accuracy and historical context. And while both the Sassoons and the Kadoories produced their share of playboys and bon vivants, they also produced some heroic figures, who, when Shanghai was flooded with European Jewish refugees, rose to the occasion:
Some 18,000 of these displaced souls reached Shanghai, and the brothers Kadoorie (along with an initially reluctant Victor Sassoon, whom they pressured into helping) were their greatest benefactors.
Horace Kadoorie, the youngest of the brothers, was indefatigable in helping his fellow Jews. He sponsored a youth association that offered refugee children recreational opportunities, vocational courses, and job placements. He supported a summer camp, built a school in the family’s name, and converted the family’s Rolls-Royce into a school bus. Even when wartime food shortages became severe, Horace still managed to serve refugee children one meal a day. (Later, when the family had resettled in Hong Kong, he repeated his generosity with hundreds of thousands of Chinese women, men, and children who had sought refuge in the then British-controlled city.)
Read more on Jewish Review of Books: https://jewishreviewofbooks.com/articles/8737/crazy-rich-sephardim/