High-ranking corrupt officials in China earn eight to fourteen times their regular salary by profiting from corruption, study based on official data says
High-ranking corrupt officials in China earn eight to fourteen times their regular salary by profiting from corruption, study based on official data says
Corruption is a vehicle used by China’s upper income classes to dramatically increase their income. “According to our calculations, they are able to illegally increase their income by a factor of eight to fourteen. Corruption allows them to rise to…
cross-posted from: https://feddit.org/post/610385
Corruption is especially widespread among officials with already high incomes and has a massive impact on earnings. While only seven per cent of officials proven to be corrupt would normally belong to the top one per cent of earners in urban China, the figure would rise to 91 per cent when considering illegal income. However, the far-reaching measures already taken by China with 3.7 million sanctions systematically inhibit corruption.
These are the findings of a study conducted by Germany's ZEW Mannheim with the City University of New York in the U.S. The study is the first of its kind to analyse the financial benefits of corruption for the individual perpetrators, drawing on data from the Central Commission for Discipline Inspection of the Communist Party.
I highly doubt that's a China specific issue. Far too many politicians have additional 'jobs' as consultants, speakers or a seat in a supervisory board. At least in Germany it's unfortunately quite common, especially in the more conservative parties, to have additional income that exceeds your regular salary as a representative.
It's about everywhere, also in USA, when a newly elected official having a net worth of nothing significant, earn, let's say, 200k per year, but after 5 years has a net worth of 10 millions ?!?