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?”
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 BCG.
GlaxoSmithKline found itself in the hot seat, after China’s authorities started an investigation into its bribery practices and one of its executives was broadcasted on central tv, confessing his crimes. But in some industries, including pharma, bribery is endemic, tells marketing analyst Ben Cavender at CNN.