Tag Archives: China

China Passes Law To Require Visits to Elderly Parents; US Continues Pushing Laws That Will Let you Kill Them

How can it be that China, where human life is arguably the most disposable in the world, could shame US by passing a law that requires families to visit their elderly parents, or at least “share greetings” with some frequency?  The law, an amended version of “Law of Protection of Rights and Interests of the Aged” is really fuzzy on details and definitions, but parents who feel snubbed can file suit against their miserable, ungrateful progeny. Generally no money is involved, but court-specified visitation can be ordered. Decades of “market reform” and rapid development has taken its toll on China’s extended families, and there is not a lot of infrastructure to care for the elderly who used to simply live with their families. Meanwhile, in the US, we keep trying to pass laws in many states that allow our elderly to “do the right thing” and eat poison applesauce for a “dignified death”, or to allow us to pull the plug on elders in expensive, icky, and potentially inconvenient long-term ill health.  Kind of a good thing we don’t have a law like that here – courts would be flooded with these cases, even with no money involved!

Take Your Child to Work Day – China Edition

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US Treasury Issues Chinese Language Savings Bonds

In an effort to sell more United States bonds to overseas investors, Secretary of the Treasury Timothy Geithner has unveiled the new series of savings bonds specifically aimed at the average Chinese investor. “It’s really the only avenue we have left, and since the Chinese are the only ones buying our debt right now, we’re going to make it easier for individuals in China to invest. We call it the “Easy as Yuan-Two-Three” program. The new bonds are issued only in Mandarin Chinese, with People’s Republic symbols and red coloration throughout. The first auction of these bonds will take place on November 1st, when Chinese banks will have the opportunity to buy them at pennies on the dollar, in order to resell them to individual investors. The bonds will mature at full value in only five years, instead of the standard 20 years, because “we’re a bad credit risk right now, and can’t be trusted to pay out any later than that”. The cost of design and implementation of the program has not yet been identified, but Secretary Geithner assures us it will provide the same level of efficiency as the other creative financial dealings that we have seen during the administration’s tenure.