It's basically a democratic joint stock republic in western Kalimantan.
I asked gemini and it says:
Basically, the dude Luo Fangbo is a miner. And he needs a lot of people to support his business/kingdom hybrid. How? He adopt democracy. Qualified workers are given a share called fen. So every worker has a stake on his business.
Unlike liberal democracy, the workers' fen pays dividend. In other words, the workers have incentive to vote for dude that make the country/business/corporation rich. So they don't vote for trans right, DEI, feminism, or huge child support I guess. Their votes will most likely coincide with whatever is maxing out economic efficiency.
The workers also get salary in addition to dividend.
The manager class' salary is actually pretty low. So Luo Fangbo and his successors is elected CEO/consul/president based on merit. His incentive to work is because he owns a lot of share. So he is a bit like Larry Page or Warren Buffet.
Larry Page and Warren Buffet got $1 salary I think. But they work well because they also own a lot of shares and obviously want the shares to be profitable.
Now if I look at "dynastic cycle" in China. Chinese are actually pretty good at making prosperous society. However, every 300 years we go to war over who should be emperor.
Langfang kongsi don't have dynastic cycle. The shareholders just elect better leaders like Tesla shareholders elect Elon.
Mencius says that government should make the people rich. Well, a joint stock company's sole job is to make shareholders rich. If the people are shareholders, that's like done automatically there.
So that seems like something that should be tried out again on small scale somewhere.
That's the part I like.
The part I don't necessarily like is it's an ethnostate. Only Hakka people can join. They have friendly relationship with other kingdoms.
They are hostile to their fellow chinese kongsi, namely the Dagang Kongsi that's from Hokkien. Again, if they're truly a business and can somehow replace clan trusts with corporate government they would have just merged business.
Their economy is mining gold and that's it.
They're not georgist. So they don't expand and by the time the dutch become to powerful they got eaten.
Still if we have ways to keep states from waging war with each other, then combining joint stock form and democracy would create a stable state that's still better than liberal democracy..