3 ms·

One deterrent is, in China corporate criminals are executed, like those who put melamine in infant formula.

by fmajid 7mo ago

bilbo0s 7mo ago
That's awesome for consumers in China. What about the rest of us? That kind of fraud is oftentimes only a fine in many other nations.
- SoftTalker 7mo ago
  The Chinese fly internationally too. So there's some motivation to not have these in other countries.
  - bilbo0s 7mo ago
    Not really worried about the Chinese. As was pointed out, they just hang a sword of damocles over the head of every entrepreneur and engineer who even thinks about doing something like that. What about power banks from India? Vietnam? Malaysia? Korea? That's what I'm saying. If there are nations where you can get away with it, then those power banks can end up in Western, African or South American markets. (I'm counting getting a fine, or paying a bribe, as getting away with it. I don't really consider those punishments that will provide sufficient deterrent.)
    - whatshisface 7mo ago
      You can get away with it in the US, if you can get regulators to approve it.
    - seanmcdirmid 7mo ago
      > What about power banks from India? Vietnam? Malaysia? Korea? 90% of powerbanks made are from mainland china. Worrying about powerbanks made outside of China is like worrying about guns made outside of the USA, theoretically possible, but those countries are so dominant and efficient in those fields that it is more of a "what if" rather than a real concern.
- hdgvhicv 7mo ago
  Maybe we should get our governments to execute corporate criminals?
  - Ekaros 7mo ago
    And stock holders. Too long they have gotten the profits, but suffered none of the losses personally from their own bank accounts.
seanmcdirmid 7mo ago
> One deterrent is, in China corporate criminals are executed, like those who put melamine in infant formula. At least in that case, no corporate executives were executed (I was living in China at the time so followed the case closely): Those Executed: Zhang Yujun: A farmer convicted of producing and selling over 770 tons of melamine-laced "protein powder" to dairy wholesalers. Geng Jinping: A milk collection center manager who added the toxic powder to fresh milk before selling it to major dairies like the Sanlu Group. Corporate Executives: The highest-ranking executive involved, Tian Wenhua (former chairwoman of Sanlu Group), was sentenced to life imprisonment rather than death. Other executives received prison terms ranging from 5 to 15 years. Other Penalties: A third man, Gao Junjie, received a suspended death sentence (which typically commutes to life in prison), and several others received life sentences or long-term imprisonment.

One deterrent is, in China corporate criminals are executed, like those who put melamine in infant formula.

by fmajid 7mo ago

One deterrent is, in China corporate criminals are executed, like those who put melamine in infant formula.

That's awesome for consumers in China. What about the rest of us? That kind of fraud is oftentimes only a fine in many other nations.

SoftTalker 7mo ago
The Chinese fly internationally too. So there's some motivation to not have these in other countries.
- bilbo0s 7mo ago
  Not really worried about the Chinese. As was pointed out, they just hang a sword of damocles over the head of every entrepreneur and engineer who even thinks about doing something like that. What about power banks from India? Vietnam? Malaysia? Korea? That's what I'm saying. If there are nations where you can get away with it, then those power banks can end up in Western, African or South American markets. (I'm counting getting a fine, or paying a bribe, as getting away with it. I don't really consider those punishments that will provide sufficient deterrent.)
  - whatshisface 7mo ago
    You can get away with it in the US, if you can get regulators to approve it.
  - seanmcdirmid 7mo ago
    > What about power banks from India? Vietnam? Malaysia? Korea? 90% of powerbanks made are from mainland china. Worrying about powerbanks made outside of China is like worrying about guns made outside of the USA, theoretically possible, but those countries are so dominant and efficient in those fields that it is more of a "what if" rather than a real concern.
hdgvhicv 7mo ago
Maybe we should get our governments to execute corporate criminals?
- Ekaros 7mo ago
  And stock holders. Too long they have gotten the profits, but suffered none of the losses personally from their own bank accounts.

seanmcdirmid 7mo ago

> One deterrent is, in China corporate criminals are executed, like those who put melamine in infant formula. At least in that case, no corporate executives were executed (I was living in China at the time so followed the case closely): Those Executed: Zhang Yujun: A farmer convicted of producing and selling over 770 tons of melamine-laced "protein powder" to dairy wholesalers. Geng Jinping: A milk collection center manager who added the toxic powder to fresh milk before selling it to major dairies like the Sanlu Group. Corporate Executives: The highest-ranking executive involved, Tian Wenhua (former chairwoman of Sanlu Group), was sentenced to life imprisonment rather than death. Other executives received prison terms ranging from 5 to 15 years. Other Penalties: A third man, Gao Junjie, received a suspended death sentence (which typically commutes to life in prison), and several others received life sentences or long-term imprisonment.