Over 10,000 Cases of Rampant Chinese Corruption to the Tune of $120 Billion
Posted on June 20, 2011 at 00:40 AM EDT
Apparently, winning first prize for financial research in the China Society for Finance and Banking annual awards was reason enough to accidentally release an internal-only document from the People’s Bank of China. What the report revealed — over 10,000 corrupt Chinese officials laundering and transporting roughly $120 billion out of China during a 15-year span [...] Over 10,000 Cases of Rampant Chinese Corruption to the Tune of $120 Billion originally appeared in the Daily Reckoning . The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas. The Daily Reckoning regularly features articles by Addison Wiggin author of Empire of Debt , Chris Mayer Invest Like a Dealmaker , and Bill Bonner Financial Reckoning Day .