A Philippine, Bugis, & Portuegese connection all seems to be feasible. The Dutch are successfull in Celebes/Moluccas because they are buisnessmen only concered about the bottom line. The Portuegese have a budgit that may vary quite some from year to year depending on the priority of Portuegese government. One of the top trade items to China would be spices, sandlewood, etc from Celebes/Moluccas area. C. Macknight's paper 81 "Early history of South Sulawesi" shows dramatic drop in Chinese tradeware around 1500 (my opinion the fall of Malacca, latter the Spanish attack on Brunei should damage this trade also). I would think early 17thC. goods from Celebes to China would reap conciderable profits. MacKnight's paper also refers to the role the "Bajau" play in early Philippine/Sulawesi trade & suggests regular direct trade. After Dutch rule the Bugis will have boats built by a Mindanao group (Samal?) in Borneo. The Samal have a strong presence already in Celebes, so they may already have competent shipbuilders there or could easily send for them. Seems plausible a Portuegese buisnessman or even a official government venture would put a deal together like this, moderate investment with potential for huge profit.
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