China sentences of the day

With less than 1% of China’s GDP, it [Wenzhou] has accounted for nearly a tenth of bankruptcy cases nationwide over the past three years. It established one of China’s first courts dedicated to handling such cases. “Other cities hear ‘bankruptcy’ and get scared. Here, we are tasting how sweet it can be,” says Zhou Guang, who heads the Wenzhou Lawyers’ Association.

Here is the full story.


Same is true in the USA: Nevada is responsible for a large percentage of US personal bankruptcy cases, and for corporate cases I'm sure Delaware is a leader.

"After a few investments went bad, he found himself 10m yuan ($1.5m) in arrears to his creditors, many of whom were former friends. Mr Fan feared they might hurt or even kill him, so he went into hiding for months, skipping from city to city."

Talk about capitalism red in tooth and claw!

And in east Texas, it's patent litigation.

Sweet, indeed.

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