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Tuesday, November 17, 2009

US and China Competiveness - Briibery

It seems the mine in Afghanistan I mentioned in this post - China and Afghanistan that is worth $2.5 Billion dollars, it was secured due to a $30 Million bribe to the minister of mines in Afghanistan.

Does the ability and willingness to use bribery give Chinese companies an unfair advantage in corrupt countries over US companies? In US companies, bribery is illegal and employees can go to jail if convicted of bribery. Even if a third party handled the details and it was known by the parent company.

In a presentation called Closing the Responsibility Gap from the Drucker Institute, over $1 Trillion in bribes are paid a year and 1 in 10 people last year had to pay a bribe. Yes, I have seen the presentation three times and I am a board member for the Drucker Society of LA so I am a bit opinionated on ethics (very important) and bribery (huge cost to a society).

Reference - Washington Post - Afghan minister accused of taking bribe $30 million payment alleged Massive mining project awarded to Chinese firm



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