China is not behind an iron curtain, but it might help you to think it is sometimes...Michael Sylvester

iron curtain.jpgChina is not behind an iron curtain, not formally anyway but it might help you to think it is sometimes...

For while there is a formal legal and financial system here, it is written to deal with the way the world works here...not where you come from.  This should not be a surprise but it still seems to cause great consternation when we are dealing with our clients.

Their law is written for their world and world view and particular circumstances and is not anti-anything really...

Yes, China is part of the world economy and things can ebb and flow into and out of China much more seamlessly than ever.  However, money flowing in or out crosses the border.  So, rather than worry about what you might be able to get away with inside China, the State here manages the choke point or bottleneck and leaves much of the rest alone as development charges on.   

This does not mean China is not worried about domestic affairs, it means they are choosing where to spend enforcement dollars as their economy matures.  There is much draconian looking law here and much that is quite liberal.   But, the ones that look 'iron curtain-ish' are the ones that seem to cause the most difficulty for foreigners.

Those laws are not really focused on foreigners, but if you end up getting caught running afoul of customs, funds transfer, taxation or import and export of investments and repatriation of profits, you will most likely be made an example of in a most unfriendly way.

They are not after you.  But they will hold you to the same standard that they hold their own citizens -- and there is often blood on the walls when that happens.  

This can be a shoot first and ask questions later environment.  So, if you are going to be moving large sums of money in or out, it might not hurt you to think of this as an iron curtain country.

If you are already in trouble, we'll bring the band-aids, but sometimes that will not be enough...