CHINA’S GREY INCOME PROBLEM PERSISTS
May 10th, 2014
INSIDER trading –and enrichment by officials – is a key reason why the Shanghai stock exchange remains stuck in a funk, underperforming in China’s overall economy for most of the past decade. “They [bureaucrats] are promoted on political criteria, not commercial…they don’t always have shareholders’ interests at heart,” explained Michael Komesaroff, principal of Urandaline Investment, an Australia-based consultancy working on outbound investment deals involving Chinese state-owned firms.The country’s government may be pursuing yet another ...
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