The Chinese leadership’s Marcos-like numbers

Reuters’ Counterparties blog assembles Marcos-like numbers for China:

“The perception that China is ruled by wise leaders adhering to neo-Confucian ideals has been contradicted by revelations of the massive wealth accumulated by its elite: an estimated $2.7 billion by the family of Prime Minister Wen Jiabao; $376 million by the family of incoming president Xi Jinping; $89 billion by just the 70 wealthiest members of the National People’s Congress; $136 million by the family of the now ostracized Bo Xilai.”

Banking, construction and infrastructure have been the leading routes to wealth. Does anyone believe that self-enrichment on this scale is not corrupting everything the Chinese leadership says and does?

About David Walker

David Walker runs editorial consultancy Shorewalker DMS (shorewalker.net), editing and advising business and government on reports and other editorial content. David has previously edited Acuity magazine and the award-winning INTHEBLACK business magazine, been chief operating officer of online publisher WorkDay Media, held policy and communications roles at the Committee for Economic Development of Australia and the Business Council of Australia and run the website for online finance start-up eChoice. He has qualifications in law and corporate finance. He has written on economics, business and public policy from Melbourne, Adelaide and the Canberra Press Gallery.
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conrad
conrad
9 years ago

“Does anyone believe that self-enrichment on this scale is not corrupting everything the Chinese leadership says and does?”

No more so than if the leaders were all poor — perhaps less in fact, since if they were still poor, it would give them more desire to take lesser as well as larger amounts. It’s also not clear whether you can be corrupting something that is already corrupt.

derrida derider
derrida derider
9 years ago

Does anyone believe that self-enrichment on this scale is not corrupting everything the Chinese leadership says and does?

As dsitinct, of course, from the wise impartiality exercised by those poverty-stricken leaders in the US establishment.

As the old Dylan line goes “money doesn’t talk – it swears”.

derrida derider
derrida derider
9 years ago

grrr – bloody HTML tags