Friday, 31 October 2008

Kidnapping now part of doing business in China?

The FT report on yet another "cost" to doing business in China. This is publicity that China could do without I am sure but I suspect this is the this end of the wedge.

The problem of Chinese customers defaulting on previously agreed deals will also lead to large losses for some importers.

Kidnap alleged in China dispute [FT]

A British scrap metal company has accused Chinese customers of abducting its chief trader for ransom in a case that underlines the challenges of doing business in China.

Goldarrow Metals alleged that Anil Srivastav was seized from a Shanghai airport this month and held for days in a small hotel in the eastern port city of Ningbo.

The company said it was forced to send shipping documents worth $350,000 to Ningbo Yibao Import and Export, a customer, to secure Mr Srivastav’s release after local police and British consular officials refused to intervene.

The affair comes amid mounting friction in the international scrap metal trade caused by a slump in commodity prices. Tens of thousands of tonnes of imported copper and aluminium scrap are reported to be sitting in Chinese ports after local companies defaulted on deals.


The embassy in Beijing said it did not become involved after concluding it was a business dispute. Ningbo city police confirmed they had been involved in a case involving Guanghe and a foreigner but declined to give further details by telephone.



Fortune Park Hotels Ltd said...

West Bengal, which is located in the eastern part of India, prides itself of a cultural heritage and legacy that dates back to the ancient of times. Kolkata, which is the capital of this land that has given India a number of great personalities, in spite of being a metro, still has a strong cultural essence. However, Kolkata has been very aptly able to manage its dual roles of being a winter holidays’ destination and at the same time business Kolkata. There is hardly any other metro in the country that has such a happy co existence of hardcore business and effervescent culture. No wonder therefore that the city is abundant in business hotels as well as holiday hotels.

zang said...

Nice Post
article generator

Ray said...

Still happening, unfortunately. I was surprised this was done to a non-ethnic Chinese, usually it's done to ethnic Chinese, even if they are US citizens.

Seth Berman said...

Yeah, I just recieved threats similar to this, a week ago...

I wrote about my experiences on my China furniture blog...

I heard multiple similar stories from friends, too... If they get you, they keep you under watch in a hotel or at the factory, nothing too bad, until they get paid...

Good post, thanks...

vrv said...

Thanks for the information about your products. Institutional Furniture Modern day furniture makers have learned to combine functionality, durability, good design and reasonable price to their pieces of work. And most of all, customers can now own their most wanted furniture with just a click of their hand while inside the comfort of their homes through the internet, any day, any time.
For more detail please visit.
Affordable Furniture

Anonymous said...

air force 1 low black black white metallic silver 361

air force 1 low black gold 676

air force 1 low dark obsidian dark obsidian 380

air force 1 low dark obsidian metallic silver white agnt 413

air force 1 low dp burgundy red earth aluminum pink 463

air force 1 low forest green white 675

air force 1 low greek 06 674

air force 1 low grey black 673

air force 1 low grey navy 672

air force 1 low grey red 671

air force 1 low harlem edition 670

air force 1 low hustlers edition 669

air force 1 low independence day edition 668

air force 1 low lux croc edition 667

air force 1 low matrix crocodile edition 666

air force 1 low metallic silver black white 421

air force 1 low mr cartoon brown pride edition 665

air force 1 low mr cartoon cinco de mayo mexico edition 664

Anonymous said...

air force 1 low shadow grey anthracite white 385

air force 1 low team red white 376

air force 1 low university blue white 652

air force 1 low varsity maize black white 412

air force 1 low varsity red white black 363

air force 1 low west indies 1 651

air force 1 low west indies 3 edition 650

air force 1 low white black metallic silver 379

air force 1 low white black 370

air force 1 low white blue denim 403

air force 1 low white green camouflage 649

air force 1 low white grey 648

air force 1 low white khaki white gum light brown 420

air force 1 low white khaki 647

air force 1 low white lemon chffn perfect pink pearl blue 434

air force 1 low white metallic gold obsidian 452

air force 1 low white metallic gold 644

air force 1 low white metallic silver china rose 417