You have to admire the Chinese knack of passing the right law, at the right moment.
The new People's Republic of China bankruptcy law, which unified all the prevailing laws, rules and regulations into a single, coherent code, came into effect on June 1 last year.
That was just nine months before the fateful day in March this year when US investment bank Bear Stearns agreed to be bought by larger rival JPMorgan Chase, and the credit squeeze in Asia began.
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