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China seizes Japanese cargo ship


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#1    OverSword

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Posted 21 April 2014 - 05:53 PM

Wars and rumors of wars.  Seems like WWIII is coming at us like a frieght train with no breaks.

From the article:

China's seizure of a Japanese cargo ship over a pre-war debt could hit business ties, Japan's top government spokesman has warned.
Shanghai Maritime Court said it had seized the Baosteel Emotion, owned by Mitsui OSK Lines, on Saturday.
It said the seizure related to unpaid compensation for two Chinese ships leased in 1936.
The Chinese ships were later used by the Japanese army and sank at sea, Japan's Kyodo news agency said.
"The Japanese government considers the sudden seizure of this company's ship extremely regrettable," Chief Cabinet Secretary Yoshihide Suga said on Monday.
"This is likely to have, in general, a detrimental effect on Japanese businesses working in China."

Story here


#2    Valdemar the Great

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Posted 21 April 2014 - 05:57 PM

Why are people so keen to promote WWIII all over the place? This kind of thing happens all the time, an Argentinian Navy training ship was seized in Ghana over unpaid debts a couple of years ago.

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#3    and then

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Posted 21 April 2014 - 06:03 PM

View PostAdmiral Rhubarb, on 21 April 2014 - 05:57 PM, said:

Why are people so keen to promote WWIII all over the place? This kind of thing happens all the time, an Argentinian Navy training ship was seized in Ghana over unpaid debts a couple of years ago.
Possibly because in this particular instance there is a lot more going on prior to the seizure.  Senkakus anyone?

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#4    OverSword

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Posted 21 April 2014 - 06:16 PM

View Postand then, on 21 April 2014 - 06:03 PM, said:

Possibly because in this particular instance there is a lot more going on prior to the seizure.  Senkakus anyone?
Exactly.  And this for debt from 1936?  Just what entity in china would still exist from 1936? And if the entity did exist, the Japanese government leased the ships and China confiscated ships owned by a private company.

Edited by OverSword, 21 April 2014 - 06:16 PM.


#5    and then

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Posted 21 April 2014 - 07:51 PM

View PostOverSword, on 21 April 2014 - 06:16 PM, said:

Exactly.  And this for debt from 1936?  Just what entity in china would still exist from 1936? And if the entity did exist, the Japanese government leased the ships and China confiscated ships owned by a private company.
The article also mentions an agreement from 1972 that should preclude any such claims.  China is just stretching to see how far it will be allowed to go.  Hopefully our own fearless leader will wag his finger and scold them!

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#6    Sir Wearer of Hats

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Posted 21 April 2014 - 09:23 PM

View Postand then, on 21 April 2014 - 07:51 PM, said:

The article also mentions an agreement from 1972 that should preclude any such claims.  China is just stretching to see how far it will be allowed to go.  Hopefully our own fearless leader will wag his finger and scold them!
Brave Sir Barack better be careful, otherwise the Chinese will do the same to the US and cite the US debt to China as rationale.

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#7    George Ford

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Posted 21 April 2014 - 09:45 PM

View PostSir Wearer of Hats, on 21 April 2014 - 09:23 PM, said:

Brave Sir Barack better be careful, otherwise the Chinese will do the same to the US and cite the US debt to China as rationale.

They dare not, they need the trade. If America stopped buying Chinese made stuff then China would loose way way more then they would gain.

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#8    OverSword

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Posted 21 April 2014 - 10:03 PM

*snip* Bulveye said it already.

Edited by OverSword, 21 April 2014 - 10:03 PM.


#9    and then

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Posted 21 April 2014 - 10:34 PM

View PostSir Wearer of Hats, on 21 April 2014 - 09:23 PM, said:

Brave Sir Barack better be careful, otherwise the Chinese will do the same to the US and cite the US debt to China as rationale.
You're preaching to the choir Sir :)  He needs no excuse to act shamelessly.  The Chinese and everyone else who hold US paper debt at this point are on the hook.  They can't do anything to crash the dollar intentionally because the whole world economic structure would literally collapse overnight and they know it.  It will eventually anyway but no one wants to be the first to point out that the emperor has no clothes.

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#10    RoofGardener

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Posted 22 April 2014 - 12:15 PM

OK, it's simple.
This is nothing to do with war reparations, so the 1972 agreement is not involved.
A Japanese Company hired two ships from a Chinese Company.
The Japenese Governement then nationalised those ships, effectively stealing them from the Japanese Company.
then they got sunk.... whilst under the stewardship of the Japanese Government.

So, the Chinese Company sues the Japanese company, and gets a court order to seize the assets of the Japanese Company in leu of the debt. As it happens, a nice juicy asset is available: a cargo ship owned by the Japanese Company is currently docked in China, it is therhefore within the courts jurisdiction, and the order is enforced and the ship siezed.

So, what next ? Simples: the Japanese Company who owned the ship should sue the JAPANESE government for failing to return the original two ships.

Edited by RoofGardener, 22 April 2014 - 12:19 PM.

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