What are some of the unique challenges with FCPA compliance in China?
How can expatriate professionals in China best adhere to guidelines set forth by the FCPA, given the cultural practice of guanxi? For Mr. Cassin’s answers to these questions and more, read on: It was reported by Xinhua News Agency that over 880,000 officials in China were disciplined between 2003 and 2008 for corruption-related activities. This seems like an incredible number. In your view, how big of a problem is corruption in China and how is it playing into the overall development of the country? I’m always somewhat skeptical with official statistics coming from China. The bureaucrats have a tendency to report figures that support the government/communist party. And, because there’s been an anti-corruption drive on for a few years now, lower-level officials may be producing statistics to show positive results. That said, however, corruption is still a huge challenge in China. Outright bribery is still common across all industries. But it’s not clear how much impact it’s having on de
