Monday, March 26, 2007

Delusional and Hypocritical Editorial in Bangkok Post about China's New Property Rights Law


Bangkok Post

Property law works for poor

Political and economic reforms do not come easily, as Chinese government leaders found out in their recent hard-won battle for the passage of a landmark property law.

The law, which for the first time explicitly protects private property, was passed by the National People's Congress (NPC) on March 16 along with a corporate income tax bill that ends preferential treatment for foreign-funded firms by unifying tax rates at 25 percent.

Prior to the NPC meeting, conservatives in the Communist Party had mounted relentless campaigns against the draft property law, claiming it would protect only the rights of the rich minority and cause more state-asset losses. But their argument is not based on facts.

In truth, state-asset losses are largely caused by collusion between corrupt officials and business people. And there are legal stipulations to protect state assets and deal with such criminal offences.

China already has laws on intellectual property rights. With a law on real property rights, legal protection of private property would be more complete as both tangible and intangible properties would be under legal protection.


There world is truly an absurd place when you have an editorial in a Thai newspaper praising China's new property rights law when it is quite clear that neither country cares about property rights at all, especially the property of foreigners. And the elites of both countries steal, expropriate, and swindle the property from their poor all the time.

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