When the US financial authorities went after investment bank JPMorgan for hiring princelings in China – the sons and daughters of high officials – many in China scratched their heads. Hiring princelings was common practise, but is now reversing because of the changes in the banking business, WSJ’s Wei Gu discovers in a discussion Tjun Tang of the Boston Consulting group.
Why princelings are disappearing from banking business – Wei Gu
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After GSK got into trouble with China’s authorities in July for large-scale corruption, foreign firms have been complaining they are singled out for anti-corruption actions by the government. At the China Weekly Hangout China veteran Janet Carmosky and sustainability professor Richard Brubaker explored on August 22 whether that complain is correct. Moderation by Fons Tuinstra, president of the China Speakers Bureau.