Corruption Rules
March 1st, 2010
I just finished writing my next column for Eurobiz Magazine, on kick-backs in China operations. A lot of Chinese have made a lot of money by taking money under the table from corporate vendors without the knowledge of their employers. The Shanghaiist recently reported that most Chinese believe the super-rich in China obtained their wealth illicitly, or, at best, through relationships. Only 16% of Chinese believed wisdom and hard work actually made a difference in the ill-gotten gains. Nearly 70% of Chinese polled by the People’s Daily thought ill of the newly rich, who have a knack for gaudy and ostentatious shows of their newfound wealth. The report related an Australian journalist’s investigation into some of the sources of new-wealth, citing the story of a port authority in which ships need to pay authorities to offload their wares, or wait at sea indefinitely with all the costs incumbent in the delays. For foreign companies such delays can mean wrecked credibility or mounting debts.
Likely, the survey did not ask the question, “If you had the same opportunities to become newly rich in ways that would be considered immoral, would you take advantage of the opportunities?”
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