cross-posted from: https://feddit.org/post/610385
Corruption is especially widespread among officials with already high incomes and has a massive impact on earnings. While only seven per cent of officials proven to be corrupt would normally belong to the top one per cent of earners in urban China, the figure would rise to 91 per cent when considering illegal income. However, the far-reaching measures already taken by China with 3.7 million sanctions systematically inhibit corruption.
These are the findings of a study conducted by Germany’s ZEW Mannheim with the City University of New York in the U.S. The study is the first of its kind to analyse the financial benefits of corruption for the individual perpetrators, drawing on data from the Central Commission for Discipline Inspection of the Communist Party.
Wonder how much insider trading alone nets them. You could probably write this article about a dozen different countries.
That’s exactly my thinking. I’m no fan of China, but is this even relatively egregious? I mean it should be, but it’s hard to criticize from within our glass house.
It probably is pretty bad, but like what are we supposed to do about Chinese officials taking bribes when we can’t stop our own officials from taking bribes.
Just because it happens so frequently doesn’t mean it should be normalized. They should be hanged and their successors finances scrutinized that much closer due to the known likelihood of corruption.