Weekly Wrap – 7th August 2014

 

Hi I am Tom McLeod, Co-Founder of McLeod Governance.

This is what I would be thinking about this week.

China’s Approach to Corruption Prevention

In our first ever Weekly Wrap in July 2013, we made the observation that there was a fundamental shift in how China was seeking to eradicate, or at least manage, its systemic corruption issues.

Close followers of Chinese politics will have noticed last week that a former Politburo member had been under investigation for serious corruption.

Xi Jinping’s efforts in this area may indeed be just political as it is suggested that they are.

But for one moment, imagine that they are not.

Imagine that that is what Xi Jinping wants to be seen and remembered for – the eradication of corruption in China.

Now firstly I don’t think it is possible in any culture, let alone a culture such as China, to fully eradicate corruption.

Changing How Corruption is Perceived

But you can change the way that people perceive it.

So taking that assumption further we may be on the precipice, indeed we may be in the middle of, a fundamental shift in the tolerance of systemic corruption in the world’s largest market.

That is obviously fascinating for those that are interested in geo-political issues but perhaps more importantly it is also very relevant for anyone that works in or deals with China.

In our globalised market that is nearly every consumer and every company.

Dealing with the Changed Circumstances

So how would you deal with a change in the way that corruption is handled and investigated in China?

That will be a question that will entertain many minds over the coming months.

 

 

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