Jon Huntsman, Jr. leaves his post as Ambassador of China today. Will he throw his hat in the ring?
(h/t Wall Street Journal)
Meet the Tiger Elders, with lawyers on speed-dial.
Citing the New York Times, the blog Overlawyered notes that a law has been proposed in China that would require adult children to visit their elderly parents… or face a law suit.
China is facing an aging population that will increase pension and health care costs, Baby Boomers are having on the United States, and decrease the competitive advantage afforded the country due to large quantities of cheap labor as its population leaves the labor force. Due to the one child policy, the squeeze will be much greater in China.
Perhaps requiring adult children visit and pay attention to their parents is a way to provide for the mental well-being of the elderly? And help diminish the costs on state to care for them?
Today, I found this “word of warning” for businesses in China, though it looks like it could apply anywhere the business is dependent on a personality or individual:
This company is in an industry very much related to government. By this I mean that it pretty much cannot avoid working with Chinese authorities in just about everything it does. This company was a great client of ours for a good spell, but we had not been hearing from them for an overlong time so I called. I learned that they are pretty much winding down their China business because their main (and pretty much only) government contact recently became persona non grata. When this contact went on the outs with one governmental entity (yes, I am being intentionally vague here too), pretty much all governmental entities started wanting to have nothing to do with my client. Within weeks, its thriving China business was tanking and try as they might, there was nothing they could do.Dan on May 5, 2010, China Law Blog, May 2010
You should read the whole article.
More on this later, but just a link for now. China has long been a pet hobby of mine, an interest that I’ve never been able to figure out how to use.
Now, from US NEWS: