Seizing China's Assets: Missouri's $24.5B Gamble

Missouri Attorney General Andrew Bailey is attempting to seize assets of Chinese companies within the state as compensation for damages allegedly caused by the Chinese government's handling of the COVID-19 pandemic. Bailey cites a state law allowing the seizure of property from countries deemed responsible for harming Missourians. The initial targets are Chinese government-owned or controlled entities doing business in Missouri. Bailey argues that China deliberately suppressed information and downplayed the severity of the virus, leading to widespread economic and health consequences in Missouri. He hopes the asset seizures will offset losses suffered by Missouri businesses and residents. Legal experts are skeptical about the legal basis for the action, citing issues of sovereign immunity and the complex process of proving causation between China's actions and specific damages in Missouri. Challenges are expected to arise in identifying and legally acquiring assets held by Chinese entities, as well as enforcing any potential judgments against them. The lawsuit's success is uncertain due to intricate legal and international relations considerations. find the original article here: https://www.yahoo.com/news/missouri-plans-seize-assets-china-222127975.html