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We all are quite familiar with the image of the Laughing Buddha. Known to bring good luck, wealth and prosperity, his statue adorns many of our shelves and desks. Popularly known as 'Hotei' in Japan and 'Budai' or 'Pu-Tai' in China, this Chinese monk is a significant and popular symbol in Buddhist and Shinto culture. He is usually seen as the incarnation of Maitreya, the future Buddha. His name literally means 'Cloth Sack' and is attributed to the bag that he is usually depicted as carrying. His round and protruding belly indicates abundance, while his material possessions are limited to the small cloth sack. It symbolizes that material possessions are not essential for happiness.