Gitic bankruptcy signals China's new debt policy; Gitic is the first P.R.C. financial institution to be put into bankruptcy; an untested bankruptcy law will now come into play

Article Abstract:

The closure and bankruptcy of Guangdong International Trust and Investment Corp was the first financial institution bankruptcy in the People's Republic of China. China has allowed the creation of many financial institutions since it began to open its economy in 1979, and Gitic was formed in 1980 as on of the country's 10 original "window" companies. The itics lost their purpose as the central government allowed other borrowers to tap foreign markets, however, and many turned to risky investment practices. China's bankruptcy statate is largely untested and the Gitic bankruptcy will set the pattern for many other troubled banks.

Banking industry, Finance, International aspects, Guangdong International Trust and Investment Corp.

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No set procedure for amendments

Article Abstract:

No set procedure exists for creating or terminating the process of amending the US constitution. A proposed amendment from 1789 to prevent Congress from raising their own salary was ratified in Michigan on May 7, 1992, the 38th state to do so, 202 years after being proposed by James Madison. Efforts to amend the Constitution occur so rarely and infrequent calls for a constitutional convention promote little interest in the subject. Four other amendments relating to slavery, child labor, apportionment and service to foreign powers are still in circulation.

Constitutional amendments

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China changes Patent Law to comply with TRIPS; law's 2001 amendments are specifically focused on the trade agreement

Article Abstract:

The World Trade Organization's monitoring of China, once it becomes a member, to ensure compliance with the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Parts of TRIPS not complied with even after the 1993 amendments to China's Patent Law are summarized.

Patents (International law)

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