by Mike Bastin for Financial Times
After several months of speculation, it was announced publicly that Zhou Yongkang, China’s former chief of security and member of the all-powerful Politburo Standing Committee (PBSC) had been officially placed under investigation on corruption charges. Some $14.5 billion in assets were seized from Zhou’s family members and close associates, reportedly, along with the arrest and questioning of more than 300 of them.
Initially, the country’s anti-corruption drive was met with widespread scepticism both inside and outside China, but with Zhou’s arrest and the mind-boggling sums reported, the worldwide public were somewhat reassured.
However, this campaign has hardly been matched by any major effort to insert anti-corrupt and ethical business practices into any area of business education across mainland Chinese business schools, which is staggering. Read more here.