China’s Elite Banks Off-Shore

800px-Flag_of_the_People's_Republic_of_China.svgA good article in The Guardian from Jan. 21st reports that the members of the inner circle of power in China are grossing large sums of money through corruption and then investing it overseas (mainly in the British Virgin Islands [BVI]) to avoid local discovery and taxation.

Rampant corruption is the main problem with communism in large nations, which excludes countries such as Cuba and Vietnam. They’re, in my opinion, are small enough to allow the good guys to keep and eye on everybody and the population seems more loyal to the ideology.

Also, the article has some nifty graphs to take a look at.

Read Here.


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