This paper attempts to develop the concept of the “ethnic capital". Based on the theory of social capital and the enclave economy, the authers argue that ethnic capital is not a thing but involves interactive processes of financial capital, human capital, and social capital within an identifiable ethnic community. the authers use case studies of centenary Chinatowns and emerging middle class immigrant Chinese communities in New York and Los Angeles to illustrate how ethnic capital affects community building and transformation, which in turn influence the social mobility of immigrants. The paper speculates on how developments in contemporary ethnic enclaves challenge the conventional notion of assimilation and contribute to understanding of community dynamics.
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