The Kowtow Still Works In China. Just Ask Jardine

An apology gets the trading house back in Beijing's favor

Punish the foreign devils. That's the best way to describe China's recent policy toward Jardine Matheson Holdings Ltd., the venerable British trading house. Jardine had drawn Beijing's ire for a number of perceived sins, including support of Governor Chris Patten's democratic reforms. History weighed heavily, too. The Chinese never forgot that Jardine profited from the 19th century opium trade that led to war and humiliation for China.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.