China’s Crisis of Corruption

By Matthew Richardson

The United States and developed countries have long struggled to fashion robust and comprehensive international anti-corruption programs, though the U.S. FCPA was a strong early attempt. However, the scale of corruption in China is on another scale entirely. Even Wang Jiarui, head of the Chinese Communist Party’s international department, admits that the lack of a sanctions regime is a huge challenge. With so many officials involved and so many assets now overseas, whether the Party can even hope to create an independent investigative body is an open question.