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New Investors Shouldn't Go to China, Starnes Says

American businessman Chip Starnes—who had been held hostage by his workers in China—told CNBC Friday that he was in a no-win situation and received no help from local officials in resolving the pay dispute that started his ordeal.

It's back to the office, Starnes said in a "Squawk Box" interview from Florida, where his company Specialty Medical Supplies is located.

(Read More: 'I Felt Like an Animal in a Zoo:' Starnes)

Starnes said he'd advise new investors not to do business in China. He cited currency issues, a shrinking labor force and rising wages there as fundamental reasons for caution.

By CNBC's Matthew J. Belvedere. Follow him on Twitter @Matt_SquawkCNBC.

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