[Cicero]

Very interesting article, and extremely important, IMHO.

The first generation of Western investors in China all lost their shirts, because the Chinese simply expropriated everything. Then after a lull they started investing again, and everyone says the Chinese have mended their ways. But this article suggests that the rule of law is once again decaying. You can't have business without enforceable contracts, justly observed.

It wouldn't surprised me a bit if the present generation of investors in China get bitten again, and it would serve them right, profiteering on the backs of persecuted victims in the Laogai and helping to strengthen the country that is potentially our most dangerous enemy. The Chinese only like to see money flowing into their country. They hate to see it coming out.

[TigerLikesRooster]

Re #30

Businessmen can be the worst lemmings at times. They deathly fear "missing the boat", even if the boat will sink pretty soon. Since they operate in frequently uncertain environments, they tend to fall victims to herd mentality. Doing what everybody else does is often the best way of preserving their careers.