Wednesday, January 22, 2014

Hiding Wealth In Offshore Accounts Is Indeed A Global Business

This article names wealthy business people and well connected individuals in China who have used offshore accounts.  The accounts have been set up with the assistance of some of our largest global banks who are very good at this sort of thing.  It appears that elites in China are not very different from elites elsewhere in the world.  They like to avoid taxes and they value the services of wealth managers at our largest banks. 

One of the differences between China and most western nations is that its easy to publish this kind of information.  The Guardian was not allowed to publish this information in China.  I also doubt that individuals in China will have access to this post.  We still have some things to be thankful for in the West.

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