July 2, 2009
US University Researcher Sentenced to Prison for Violation of Export Control Act
Further to this September, 2008 post, a Tennessee University researcher has been sentenced to four years in prison for violation of the Export Control Act. Doug Jacobson writes about it on his excellent trade law blog, here. The court did not assess any monetary penalties.
Posted by Richard at 4:50 PM | Comments (0)July 1, 2009
China Law Bibliography -- 2009 -- Now Available for Free Download
Knut Pissler, researcher in law at the Max Planck Institute for Comparative and International Private Law, and his co-editors, have graciously allowed us the opportunity to make available for download their China Law Bibliography. An excellent tool for researchers both in academia and law practice. I will also place this in the research tools section on the right sidebar at a later date.
June 30, 2009
Sony PCs and Green Dam Filtering Software
Sony seems to have shipped PCs with new filtering software, with interesting instructions to consumers.
Formaldehyde Found by Vietnamese in Clothes Made in China
Given our prior posting on dangerous imports and reader reaction, this may be of interest to readers.
The Hanoi Market Control Sub-agency has affirmed that China-made clothes contain formaldehyde, a substance which is harmful to human skin, with the content ratio of less than 2 percent. No official conclusion has been released because no regulation covers this issue.
[Thanks to Trade Lawyer twitter for the onpass.]
Posted by Richard at 2:51 PM | Comments (0)Hong Kong/Mainland China Cross Border Trade to Be Settled in Yuan By Next Month
It appears that cross-border trade between Hong Kong and mainland China may be settled in yuan as early as next month. [Thanks to Frank Caruso at the Chinatex blog.]
Note the limitations:
The State Council said early in April that it would allow traders in Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan to settle their cross-border business in yuan.
In December, the council said Hong Kong and Macau would be permitted to use yuan for the settlement of trade with designated partners in Guangdong and the Yangtze River Delta under a pilot scheme. Mr Zhou said how many mainland enterprises participated in the scheme would depend on the governments of the two delta regions but “there will be at least a few hundred”.
Mr Yam said all Hong Kong exporters and importers could settle trade with their designated mainland counterparts, but the scheme could only be implemented after the PBOC issued administrative guidelines.
One has been reading pronouncements about convertibility since the early 1980s. This writer is still unsure that full convertibility will ever take place, if only because -- without consideration of economic or financial reasons -- convertibility takes substantial control out of the hands of those who have enjoyed it for so many years. This project, at least described by the article, appears to be a beta test.
Posted by Richard at 1:40 PM | Comments (0)June 29, 2009
Legal Trade Mission to China, Privately Sponsored
Now here is a new idea, or at least something I've not heard of before. A legal trade mission to China, organized by Brian Su, who is not himself an attorney, as far as I know. Brian tells me that a good number of law firms and companies in China have committed to meetings with any attorney who might wish to drum up business in China. There is a fee. (Please note that I post this not because I am paid for it -- and I'm not -- but simply to alert people who may wish to look into it.)
Posted by Richard at 1:52 PM | Comments (0)June 24, 2009
A Further Twist to the Old Attorney Email Scam
Asiabizblog is becoming something of a repository for attorney scam e-mails. Many Google searchers have come to Asiabizblog through keywords associated with scam e-mails they have received. Good for you!
I receive at least one a week. Here is the latest -- and the first one to come from a Gmail address, which cannot be tracked any further than the Gmail origin itself. However, my spam filter immediately placed in the junk folder. If your mail application does not have a spam filter, you need one.
Dear Counsel,I am sending this email as a mutual introduction. Mr Patrick Wong is the Managing Director of Toho Technology Co. Toho Technology Co. is a manufacturer and supplier of coils and transformers. Toho Technology is owed payment on shipments that they made to customers here in the US from Febuary 2007. The company is now seeking advice and possible representation in litigation against the non-paying companies in your state.
I can not handle this matter at this point because it is out of our jurisdiction.I have represented this company in the past, therefore I am assisting them in finding an attorney in the required state. Kindly contact Mr. Patrick Wong if you are interested in representing him. Below is his contact information as follows:
Patrick Wong
Toho Technology (H.K) Co. Ltd
pwong273@gmail.com
Should you have any questions please contact me through my email (NicholasWrightLaw@gmail.com). I encourage you to contact one another to see if this is a situation where you can work together.
Sincerely,
Nicholas Wright, Esq.
NicholasWrightLaw@gmail.com.
This e-mail is as transparent as they come.
1. It is not addressed to me personally.
2. The e-mail apparently originated at a Gmail return address, where company address should be expected.
3. Who the heck is Nicholas Wright, other than an alter ego for the sender? If he is an attorney, what is his contact information? Where is he admitted?
in fact, NicholasWrightLaw@gmail.com is listed as a 419 scam.
Posted by Richard at 1:56 PM | Comments (0)June 19, 2009
Asiabizblog is Twittering
http://twitter.com/Asiabizblog
Posted by Richard at 9:25 PM | Comments (0)June 12, 2009
Law Firm Loses $400,000 to Scammers
$400,000 lost to overseas scammers in what should by now be a well-known modus operandi to American attorneys.
Bradley Arant Boult Cummings has reportedly fallen victim to a sophisticated debt collection scam, to the tune of more than $400,000.
The Nashville Post...reports that the law firm wired more than $400,000 to the foreign bank account of a scammer posing as a client. Lawyers at the firm believed the funds were covered by a check it had deposited—a check that turned out to be phony.
Read the article to learn more about the precise method by which the scam operated. No email communication was mentioned, but entirely consistent with similar scams we have described many times on this weblog.
Just the other day I received another invitation to dance:
Jinan Haohua Industry, Co. Ltd
153 Wardour Street. London.
W1F 8WN.
(+) +44 704 574 7799Attention: Counsel,We the management of Jinan Haohua Industry, Co. Ltd, require your legal representation for our North American Customers. Jinan Haohua Industry, Co. Ltd, a manufacturer and supplier of chemical, we are been owed payment on a shipment that we made to a customer in America in June 2008 and now seeking advice and possible representation in litigation against the non-paying company.We are of the opinion that the ability to consolidate payments from North America will eradicate delays due to inter-continental monetary transaction between the UK and North America. We understand that a proper Attorney Client Retainer will provide the necessary authorization and we are most inclined to commence talks as soon as possible.Your consideration of our request is highly anticipated and we look forward to your prompt response.Sincerely,Chang Ming Cheng,Managing Director.Let's briefly review what's suspicious about this e-mail:
1) It arrived from a generic e-mail provider, not a company address: Chang Ming Cheng [chang_mngcheng@yahoo.co.uk].
2) My name, law firm and address are nowhere to be found. Clearly, an email blast. Scammers are lazy, looking for easy pickings. They will not spend the time and money focusing on a handful of suckers when 100,000 are out there.
3) E-mail properties display this information:
Received: from coal.daxa.net ([202.145.6.71]:52698) by jeep.websitewelcome.com with esmtps (TLSv1:AES256-SHA:256)
According to this page, that server (202.145.6.71) is in Jakarta, which received the email most likely from a server in Hong Kong or Singapore.
4) 153 Wardour Street in London does not exist! 151 is an office building and 155 is a storefront. A falafel restaurant!
I did all of this research in less than five minutes. I would have been happy to take 1/100 of Bradley Arants's alleged loss as payment for services rendered to them in doing due diligence on that purported client and not see them in the situation they're in now. In fact, attorneys must be able to perform this simple research either by themselves or through people who can, especially when the Internet is involved.
Forewarned and forearmed!
Posted by Richard at 2:07 PM | Comments (0)
June 8, 2009
Audio Event: Bob Compton, Win In China Filmmaker
Bob Compton, producer of Win in China, talks about his film and the business plan competition it documents.
See below for a video clip from the film: Win in China (www.wininchinamovie.com)
Posted by Richard at 3:25 PM | Comments (0)
Video: Win In China -- A New Documentary on China Business
A clip from the documentary film, Win in China (http://www.wininchinamovie.com):
Posted by Richard at 3:18 PM | Comments (0)
June 1, 2009
Peter Hitchens on the "Wicked Chinese Empire" in Africa
Quotes like those below make for great reading. The proclamations of friendship between China and African nations, common in the 1960s and 70s, based upon on a common penury and "revolutionary ideals," have long since vanished, replaced by mountains of cash.
China's cynical new version of imperialism in Africa is a wicked enterprise.There are persistent rumours, which cropped up in almost every conversation I had in Zambia, that many of the imported Chinese workforce are convicted criminals whom China wants to offload in Africa. I was unable to confirm this but, given China's enormous gulag and the harshness of life for many migrant workers, it is certainly not impossible.The limitation of the article -- not a weakness -- is the insistence that the writer's personal experience is repeated throughout Chinese business communities in Zambia and Africa. Nonetheless, I found many of the writer's assertions to be plausible. Confirmation of this story is essential. First-hand accounts would be extremely welcome, especially from Chinese who've lived and worked in these colonies. Readers aware of other such articles are more than welcome to pass those stories on to me.
If any of this is true, the writer is himself quite an interesting individual.
Posted by Richard at 2:43 PM | Comments (0)
May 15, 2009
Another Prediction of Chinese Currency Supremacy
A Columbia University economist known for his extraordinary conclusions -- some right -- evidently knows something everybody else does not.
The Chinese yuan is preparing to overtake the US dollar as the world's reserve currency, economist Nouriel Roubini has warned.Read his article and several comments here. Frankly, it doesn't look like anything more than an educated guess. What support is there for such an extraordinary statement? Certainly none in the article itself. And the RMB isn't even fully convertible -- and I don't believe will ever become so. Convertibility -- essentially, the making of a truly internationalized currency -- has been a subject of discussion and prognostication for 30 years, ever since China used foreign exchange certificates in the early days after the initial economic reforms of 1978. How is it in the interests of the Chinese government and Chinese commerce to make it fully convertible? This is a question that no one seems to address.
Already, some are hitching on to a star in the hopes of its ascending to the extraordinary heights. I well remember the reports and predictions of the supremacy of the Japanese yen in the 1980s.
As proof of this gentleman's economic wisdom, writers consistently cite his previous prediction of financial collapse. But then again, I know quite a few non-economists who predicted the same thing!
Posted by Richard at 1:47 PM | Comments (0)
May 14, 2009
Zhao Ziyang's Dictated Diary to Be Published in May
Prisoner of the State: The Secret Journal of Premier Zhao Ziyang
With audio!
If you see this book available for sale online, please let me know. Amazon does not have it up yet.
Posted by Richard at 2:47 PM | Comments (0)
May 12, 2009
Chinese Exports Fall 22.6%
The New York Times reports:
Exports from mainland China slumped 22.6 percent in April from a year earlier, official statistics showed — a fall that was not only larger than economists had expected but also bigger than that in March, when overseas shipments declined 17.1 percent.Posted by Richard at 2:34 PM | Comments (0)
May 8, 2009
New York Event: The Financial Crisis: The Impact on Private Equity in Emerging Markets
The Financial Crisis: The Impact on Private Equity in Emerging Markets
"Join a panel of distinguished experts as they share their insights on the future of private equity in emerging markets. Hear their perspectives on how these economies are coping with the changes caused by the economic slowdown, which countries are geared for positive growth, what the key areas of concern are, as well as where the new opportunities for private equity lie as it adapts through the financial crisis."
Speakers:
Shad Azimi, Managing Partner, Vanterra Capital
Victor Z. Gao, Executive Director, Beijing Private Equity AssociationSecretary-General, China Private Equity Association (invited)
Victor J. Menezes, Senior Advisor, New Silk Route Partners (invited)
Khaled Al-Muhairy, Founder and CEO, Evolvence Capital
Peter R. Ryder, Co-Chairman, IndoChina Capital
John Schumacher, Founder and CEO, New York Life Capital PartnersDate: Monday, May 18
Time: 6:30pm-9pm
6 - 6:30pm -- Registration
6:30 - 8pm -- Discussion
8 - 9pm -- ReceptionLocation: Asia Society, 725 Park Avenue, New York, NY 10021
Event URL: Click here
RSVP: By phone, (212)-517-ASIA (M-F 10am-5pm) or online
VERY FAR OFF-TOPIC: When in New York for this event, may I suggest that this website will direct you to great burger joints for dinner or a snack afterwards. I just think it's a great site.
Posted by Richard at 3:16 PM | Comments (0)








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