China acts to stem the tide of officials fleeing with cash

China acts to stem the tide of officials fleeing with cash

www.csmonitor.com

As many as 10,000 corrupt government officials have fled China with $100 billion.

*snip*

The problem is compounded by the fact that China has signed extradition treaties with only 31 countries. They do not include the US, Canada, or Australia – three popular destinations for Chinese officials on the lam. Only four western European nations have such agreements with Beijing.

Those who escape China with money tend to seek refuge in North America or Europe, say corruption experts here.

(visit the link for the full news article)


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That is a *lot* of US dollars coming back.

Unfortunately, the article isn't exactly clear on how they're fleeing with cash. Of course, I don't mean to imply these Chinese officials are filling 747s with pallets of cash. The article shows that, clearly, the monetary/finance system is set up globally, even in heavily-controlled nations such as China. After all, this article shows Chinese officials are able to invest the money they've stolen in such a way as to make it available to themselves upon fleeing to North America.

Thoughts?

www.csmonitor.com
(visit the link for the full news article)

Assuming this is true, I'll be willing to be that a lot of this money makes it's way back to the United State. For all the cricticism this country receives, it is still the place people run too when they seek freedom, even if they are criminals.