Psychologically weak people with sheep mentality will often choose to deride and shame themselves and their own identity when they live in a society that has rivalry with their own in order to fit in and be liked. When the strong live in a society with a rivalry to their own, they always do so with dignity, upholding their own culture, and with a bottom line that when push comes to shove, they will always return to home team. Unlike the weak who would rather attack themselves than offend society, the strong would rather take on the entirety of society than disgrace themselves or their home country. The strong are always proud of who they are no matter where they are; the weak define who they are by where they are and never have the courage to take a view that dissents from or displeases the majority.
He's writes a book in 2001 called "The Coming Collapse of China" with a date of 2006 for this to happen.
The rumor I heard was that either his father or himself was outsmarted by some Hong Kong businessmen and failed several business in Hong Kong.