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China Beats India Again, This Time in Corruption | Swaminathan S. Anklesaria Aiyar | Cato Institute: Commentary: "Top politicians claim they have no links with the businesses of relatives. But a veteran diplomat says "everything is controlled by a couple of hundred powerful families... most foreign companies are trying to hire the sons and daughters of Chinese officials so they can get access and do business."
Multinationals often start joint ventures with the princelings, who typically hold their stakes through holding companies in Hong Kong or Caribbean tax havens. This helps hide business secrets."
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