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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: ---------- who wrote (988)	12/22/1997 9:13:00 AM
From: Richard Tsang	Read Replies (2) \| Respond to of 2951

Doug, I am as confused as you are and would appreciate some more insight to that statement. I have posted in a new thread "Asia" and thought you'd be interested to read: exchange2000.com Best Regards, RT

To: ---------- who wrote (988)	12/23/1997 1:21:00 AM
From: synchro	Read Replies (3) \| Respond to of 2951

Of course China has laws. They even have an edifice of a constitution that seems on paper quite reasonable and "democratic". But is it really being applied and followed? Regardless of how many or how much laws they have on their books, the bottom line is that China is still governed by _zhundzi_ (pardon my phonetic incompetence -- a system that depends on the whim or benevolance of a ruler/mandarinate ascended thru inner circle power struggle & guanxi) instead of _Fahdzi_ (an impersonal system with clear, open rules that protect everyone's -- not just the rich & powerful's -- several property and enforce contracts). I am perhaps in error in suggesting that "they need to HAVE a system of rule of law". What I should have said is that "they need to DEVELOP A TRADITION of rule of law." There is a subtle distinction. The former is perhaps impossible in the near future. The latter will take time and luck. The current system of _zhundzi_ at the very least stifles what would otherwise be an even more vital entrepreneurship in mainland China. _zhundzi_ fosters the "little Hitler" syndrome and a culture of bribery and "walking the backdoor." Happy Holidays.