China’s money laundering crisis - New York Post

"China has built the world’s second-biggest economy and created a middle class bigger than America’s entire population, but it faces a major problem: The people who get rich there want to put their money somewhere else. To avoid taxes or even seizure by the government, rich Chinese have exported a stunning $1.4 trillion between 2002 and today. China leads the world in 'illicit capital flows' — we call it 'money laundering' — while Russia, with $800 billion hidden outside the country, is runner-up."

Read the full article by Diane Francis in the New York Post.

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