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eBook details

• Title: Corruption and China's Economic Reform in the Early 21st Century (Company Overview)
• Author : International Journal of Business
• Release Date : January 22, 2006
• Genre: Industries & Professions,Books,Business & Personal Finance,
• Pages : * pages
• Size : 292 KB

Description

ABSTRACT Past economic reform of the state sector in China consisted mainly of privatization, of agriculture and of small and medium-size state enterprises, leaving large state enterprises in the control of the state. Current reform consists of making state-owned enterprises and banks more efficient and functioning like private enterprises, gradual privatization of some large state enterprises and setting up government programs for rural development, poverty reduction and social welfare. Bureaucrats managing state assets, the sales of these assets and the social development programs take advantage of such power to benefit themselves, including embezzlement of public funds, taking bribes from citizens needing their help and the abuse of power in carrying out rural development programs, as can be found in state enterprises, state-owned commercial banks and in various government social and development programs. Reducing the size of the government sector is a basic solution to the corruption problem in China while attention should be paid in the privatization process which can involve corruption and in the promotion of private initiative for social and rural development.

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