How bad is corruption in China?

It fits perfectly as a new instances of the old adage saying “Power tends to corrupt, absolute power corrupts absolutely”

Global Public Square

By Fareed Zakaria

There was a blockbuster article in the New York Times recently that details the extent of the private wealth amassed by the family of Chinese Premier Wen Jiabao. The story is already creating huge waves in China, and although Chinese authorities have reportedly blocked the paper’s site, the story is still being discussed in a million different, quiet ways.

“A review of corporate and regulatory records indicates that the prime minister’s relative – some of whom, including his wife, have a knack for aggressive deal making – have controlled assets worth $2.7 billion,” The New York Timesreported. “In many cases, the names of the relatives have been hidden behind layers of partnerships and investment vehicles involving friends, work colleagues and business partners.”

What this highlights for me is not that China is especially corrupt, although corruption there is (as elsewhere) a genuine problem. Instead, this…

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