Kimberly Kay Hoang

"This fascinating ethnography examines one segment of Vietnam's diverse sex industry. Between 2006 and 2010, author Kimberly Kay Hoang was employed at four exclusive Saigon hostess bars catering to high-end clientele: wealthy Asian businessmen, Western expatriates and tourists, local Vietnamese men, and Viet Kieus (ethnic Vietnamese living abroad). Using participant observation and in-depth interviews with the sex workers, bar owners, managers, and mostly rich clients at all four locations, Hoang argues that Vietnam's high-end sex industry is much more than a byproduct of globalization--it's an integral component of the country's free-market capitalism, including its emergence as a regional economic player. Major business deals in Vietnam often occur within hostess bars, which businessmen use to stage a display of power, forge relationships, and impress clients. Hostesses facilitate these transactions by socializing with clients, as well as fulfilling fantasies of the flesh and of the culture. The author reveals how recent changes in the political economy have shaped the social structure of sex work in the country, just as actors involved in the sex industry have actively shaped Vietnam's political economy. Multiple constructions of gender are emerging across local, national, and global socio-spaces from the bottom up and the top down"--Provided by publisher.

Asian Ascendancy, Western Decline, and the Hidden Currencies of Global Sex Work

Dealing in Desire

A behind-the-scenes look at how the rich and powerful use offshore shell corporations to conceal their wealth and make themselves richer In 2015, the anonymous leak of the Panama Papers brought to light millions of financial and legal documents exposing how the superrich hide their money using complex webs of offshore vehicles. Spiderweb Capitalism takes you inside this shadow economy, uncovering the mechanics behind the invisible, mundane networks of lawyers, accountants, company secretaries, and fixers who facilitate the illicit movement of wealth across borders and around the globe. Kimberly Kay Hoang traveled more than 350,000 miles and conducted hundreds of in-depth interviews with private wealth managers, fund managers, entrepreneurs, C-suite executives, bankers, auditors, and other financial professionals. She traces the flow of capital from offshore funds in places like the Cayman Islands, Samoa, and Panama to special-purpose vehicles and holding companies in Singapore and Hong Kong, and how it finds its way into risky markets onshore in Vietnam and Myanmar. Hoang reveals the strategies behind spiderweb capitalism and examines the moral dilemmas of making money in legal, financial, and political gray zones. Dazzlingly written, Spiderweb Capitalism sheds critical light on how global elites capitalize on risky frontier markets, and deepens our understanding of the paradoxical ways in which global economic growth is sustained through states where the line separating the legal from the corrupt is not always clear.

How Global Elites Exploit Frontier Markets

Spiderweb Capitalism

This captivating ethnography explores Vietnam’s sex industry as the country ascends the global and regional stage. Over the course of five years, author Kimberly Kay Hoang worked at four exclusive Saigon hostess bars catering to diverse clientele: wealthy local Vietnamese and Asian businessmen, Viet Kieus (ethnic Vietnamese living abroad), Western businessmen, and Western budget-tourists. Dealing in Desire takes an in-depth and often personal look at both the sex workers and their clients to show how Vietnamese high finance and benevolent giving are connected to the intimate spheres of the informal economy. For the domestic super-elite who use the levers of political power to channel foreign capital into real estate and manufacturing projects, conspicuous consumption is a means of projecting an image of Asian ascendancy to potential investors. For Viet Kieus and Westerners who bring remittances into the local economy, personal relationships with local sex workers reinforce their ideas of Asia’s rise and Western decline, while simultaneously bolstering their diminished masculinity. Dealing in Desire illuminates Ho Chi Minh City’s sex industry as not just a microcosm of the global economy, but a critical space where dreams and deals are traded.

Kimberly Kay Hoang

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