In this video, let’s talk about the non-financials risks faced by foreign investment in China.
We start with the story of Mr. Steven Saleen, a race car legend and founder of Saleen Automotive. In 2016 he entered a joint venture with China’s Rugao city government to produce performance cars for Chinese car lovers. But this year his ownership in the joint venture was taken by local Chinese Communist Party officials. He also found out that the local government applied for patents with his intellectual properties.
Next we talk about the experience of a German investor Robert Rother. He once had great success doing business in China. But later he was prosecuted by the CCP due to his independent finance website. His assets were taken and some valuables ended up in the pockets of local police. The CCP charged him for fraud without witnesses or confession. His lawyer was prevented from accessing evidence. Rother spent 7 years and 7 months in Dongguan Prison where intensive forced labor took place. After going back to Germany, he wrote the book Dragon Years- Seven Years and Seven Months: How I Survived Prison in China.
Maybe the most affected has been Taiwanese investment in China. We look at the story of Wu Wei-Kuo, the first Taiwanese businessman to product silicon wafer in mainland China. He was once very popular in China. Then the local government took his land. And he was illegally persecuted after get compensation. According to Kao Wei-Pang, anther Taiwanese who suffered from China’s lack of rule of law, there have been 70,000 cases where Taiwanese businessmen’s assets in China were taken illegally. Most of the cases have not been properly resolved.
The major cause for those tragedies is China’s lack of rule of law under the CCP. China has company and foreign investor protection legislations. But the CCP is above the law. If that doesn’t change, illegal seizure of foreigners’ assets might continue to happen.
0:00 Introduction
0:38 The Lucrative “Business Opportunity”
2:01 The Honey Moon Ended
4:14 The Framed German Businessman
6:53 70,000 Complaints by the Taiwanese
9:10 Will the CCP Adopt the Rule of Law?
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We discuss world economy, history, and politics. Our main focus is U.S.-China relations. We make short documentaries and tell you the hidden stories.
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References:
Saleen History https://bit.ly/3kg6FU7
Steve Saleen https://bit.ly/2Zw3sIo
Saleen 2019 Annual Report https://bit.ly/3bORVsA
1 in 5 corporations say China has stolen their IP within the last year: CNBC CFO Survey https://cnb.cx/2Zy0jI2
China wields c*ronav*rus to nationalize American-owned carmaker https://fxn.ws/35qupku
Fraud charges, lost patents: How an L.A. auto legend’s China venture crashed https://lat.ms/3hl1hxb
How Chinese Officials Hijacked My Company https://on.wsj.com/3mdEmHT
“Your Jaw is So Strangely Dislocated” https://bit.ly/2FyVY0c
Edel Books Twitter https://bit.ly/32lHcCP
Dream? Trap? The Story CCP Doesn’t Want to Tell Taiwanese Businessmen https://bit.ly/33kDHMh
Taiwanese Businessman Wu Wei-Kuo Locked Up for Two Years https://bit.ly/3kfHz8b
Escaping the Red Prison: The Honey Moon between mainland and Taiwan Ended https://bit.ly/3hlHkqh
Taiwanese Businessman Got Trillions TWD Taken by Mainland https://bit.ly/2Fs1lya
Finance China https://bit.ly/32prYN4
Forced Labor and Torture in a Chinese Jail https://bit.ly/35yG2Wu
He knows what many Hong Kong people can expect https://bit.ly/33mhQUB
Foreign Investment Law of the People’s Republic of China https://bit.ly/32oAJXK
“I am the witness”: German Businessman Survived CCP Prison https://bit.ly/3hpMp0H https://bit.ly/3bTbPTb https://bit.ly/32pX8nw
Saleen China Review https://bit.ly/33nsoTl
Investing in China: The Traps You Should Know (12) Robbery in the Name of Law Enforcement https://bit.ly/3islQJD
Investing in China: The Traps You Should Know (4) Fraud in the Name of Joint Ventures https://bit.ly/3iFdu1v
Victims of Investment in China Association https://vica.tw/
#Stories #Investment in China #CCP #China Economy
