The formal arrest and expected trial of Zhou Yongkang means a change in how China is dealing with its ruling elite, tells political scientist Victor Shih in the International Business Times. “No leader is safe from corruption investigation… We see now the rule by law.”
Category Archives: corruption
For those who have missed it: corruption is high on China´s hitlist for the past year, just ask executives at pharmaceutical companies. Author Paul French argues in Ethical Corporation the crackdown on foreign firms could have been expected, and will last.
Sales of yachts in China are under pressure, WSJ wealth editor Wei Gu notes at the Hainan Rendez-Vous, caused by China´s anti-corruption drive at the China Real Time of the WSJ. It did not help that last year sex-and-drugs stories emerged from the 2013 fair.
Sales of luxury goods dropped in 2013, the third year of decline, and is expected to drop even further in 2014, according to a new Hurun report. “In terms of traditional luxury – leathers, accessories, watches – this year is going to be flat if not a little bit down,” Hurun founder Rupert Hoogewerf tells Reuters.
For the communist party, fighting corruption is a matter of life and death, author Zhang Lijia told CNN’s anchor Kristie Lu Stout in “On China”, focusing on the crackdown on corruption by the current leadership. “They will catch a big tiger from each province. But again you guess, which tiger will get caught. The most corrupt one, or the most politically weak?”
Mooncakes and watches are just a few of the items you cannot give officials as a gift anymore, as Xi Jinping’s anti-corruption drive is gathering steam, in stead of losing it. But gift-giving is not disappearing, tells business analyst Shaun Rein in the Jing Daily, it is just changing.
President Xi Jinping’s anti-corruption drive has lasted longer than everybody expected, hurting high-profile drink manufacturer Moutai hard. The drink is unfortunately “synonymous with corruption and hedonism”, tells retail analyst Shaun Rein Reuters.