China one-party / Graft and growth / India corporations

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INFO: China’s Communist Party mouthpiece defends ability of one-party rule to tackle corruption.  “China’s Communist Party’s mouthpiece has published a commentary that has jumped to the defence of the ability of a single-party system – as found on the mainland – to successfully tackle corruption, while citing both the United States and Singapore as examples.”
Choi Chi-yuk/South China Morning Post: http://www.scmp.com/news/china/policies-politics/article/1982627/chinas-communist-party-mouthpiece-defends-ability-one
COMMENTARY: No, Graft Isn't Good for Growth.  “The case for graft, as it were, is superficially plausible. Like a light-fingered version of Adam Smith’s invisible hand, thieving officials have an incentive to spur economic activity. The real estate and infrastructure projects that line their pockets also contribute to a blistering pace of investment. If millions of tax dollars have gone into banquets of sea cucumber and baijiu -- a throat-scorching Chinese liquor -- such extravagance at least boosts consumption. Now investigators have frightened cadres into cancelling investment projects and contenting themselves, as Xi has urged, with four dishes and a soup. Consumption, investment and growth have all taken a hit.”
Tom Orlik/Bloomberg: http://www.bloomberg.com/view/articles/2016-06-28/corruption-crackdown-isn-t-to-blame-for-china-s-slump
INFO: 80% Indian firms saw corporate fraud last year, 25% reported corruption.  India has one of the largest rates of corporate fraud in the world, according to the Global Fraud Survey, 2015-16, conducted by the risk-mitigation consultancy Kroll and the Economist Intelligence Unit
Catchnews: http://www.catchnews.com/business-economy-news/80-indian-firms-saw-corporate-fraud-last-year-25-reported-corruption-1467052989.html

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