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Friday, July 10, 2009

Is arresting standard business practice in China?

Rio Tinto just had 4 employees arrested in China. Rio Tinto is a huge iron ore producer that China was trying to buy, but got turned down. Currently China is negotiating the price of Iron ore and these arrests happened.

Arrests in China have happened before that are more business related and how has more power, than to any crime. Jude Shao is an example of this. This also happened to a friend of a friend of my wife.

No formal charges have been pressed, but supposedly the Rio Tinto people got confidential pricing information. Or is this just a way to change the subject on a misjudgement? It is hurting the relationship with Australia and China's reputation in the area of law with foreign firms (I hope you did not fall off your chair laughing at that last sentence).

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