International letters of credit

International Letters of Credit

Understanding Letters of Credit Avoiding Pitfalls in International Transactions Letters of credit are complex financial tools that can be risky if not properly understood. This post will explain what letters of credit are, delve into potential complications, and provide advice to avoid risks when using them for international transactions. A Cautionary Letter of Credit Tale

China retail stores

China Retail: Creating Your Own Customers is Key

As China moves from “factory to the world” to a growth engine for the world, the number of foreign businesses wanting to sell into and within China is rapidly increasing. These days, product companies that contact our law firm are just as likely to ask about selling their product in China as to ask how

China spies on foreign businesses

China: The Walls Have Ears

China is watching you. I am convinced about 99.99% of all emails go through. But for me, that means at least a few of the emails I send each week will not reach their destination. If I do not hear back from someone quickly, I assume they did not get my email and I send

International dispute resolution

Owe Money to a Chinese Company? No Need to Pay

If one of our clients owes money to a Chinese company and it cannot pay all its creditors, our international dispute resolution lawyers recommend they pay the Chinese company last because the Chinese company will likely never sue to recover. I am NOT advocating not paying debts to Chinese creditors, but I am saying that

Ending foreign kickbacks

Did a Pure Fabrication Move The Yuan Market?

The internet is abuzz with news that Chris Devonshire-Ellis of China Briefing may have influenced movement in the Yuan-Dollar conversion rate by what is being described by Chinese governmental authorities  as a “pure fabrication.” To summarize, China Briefing Magazine did a post claiming to have interviewed a Chinese governmental official who talked of the Yuan

China business toasts

Toasting Rules at China Business Banquets

The Rules for China Toasting Though I am a complete lightweight as a drinker (I average maybe one alcoholic drink a month), I consider myself somewhat of a master of foreign business toasting. I have participated in well over a hundred toasting sessions with Chinese, Koreans, Thais, Turks, Mexicans, Spaniards, French and Russians, and the

Kaifeng Jews

China: Where Even The Jews Are Fake

In China everything can and is faked, even the JeAbsolutely fascinating story in today's Washington Post, entitled, Sold on a Stereotype: In China, a genre of self-help books purports to tell the secrets of making money "the Jewish way".  Seems the Chinese think very highly of Jews, both for their perceived ability as businesspeople, and for their honesty and family values. China has some 50+ books focusing on emulating the Jewish path to success.

international attorneys

Gibson Guitars — From Kalamazoo To China And Beyond

I just learned that Gibson Guitar will soon be returning to an industrial heartland, but in China's Liaoning Province this time. Gibson just purchased China's third-biggest piano maker, state-owned Dongbei Piano Group. Our international lawyers have lately been seeing more American and European companies getting their start at doing business in China by buying existing China companies/facilities.

Doing business in China and with China

INTRODUCTION TO OUR BLOG

We will be discussing the practical aspects of Chinese law and how it impacts business there. We will be telling you about what works and what does not and what you as a businessperson can do to use the law to your advantage. Our aim is to assist businesses already in China or planning to go into China, not to break new ground in legal theory or policy. We want to start a conversation with, for and about the person who wants to know "what is what" in China and the practical aspects of starting and growing a business in or involved with China.