September 15, 2004

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In many Western countries white collar crime is considered a "softer" crime; for example in fraud no-one gets "hurt" except for big banks and insurance companies that can afford to lose a little bit. It's a lie, of course.

China has been clamping down on corruption and white collar crime in recent years. It is also preparing to launch IPOs of two of its largest state-owned banks, Bank of China and China Construction Bank, next year and is desperate to clean them up as much as possible before the sale. So how does China deal with white collar criminals? It executes them. China liberally uses capital punishment, although the exact number is a State secret. It sure makes the saying "crime doesn't pay" ring true.

(via reader of the year Paul)

posted by Simon on 09.15.04 at 10:36 AM in the




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