Accuracy in Media

WASHINGTON — Chinese officials are now cracking down on widespread corruption that is related to extravagant building projects and the like.

Xi JinpingReuters reports that the Communist Party of China, under the new leadership of Premier Xi Jinping, is suspending current building projects after scandals have eroded the public’s confidence in the ruling party.

China will suspend the construction of new official buildings for five years in order to save face. The state media agency, Xinhua, said, that the decision was “made in accordance with the country’s frugality campaign”.

This comes at a time where domestic scandals where officials have siphoned off government funds for themselves and not for the people have hurt the government’s standing among the Chinese. This measure has rarely worked in the past and most likely will not work this time around.




Comments

  • Richard Hellstrom

    Communism – a totalitarian system of government in which a single authoritarian party controls state-owned means of production.
    Democracy – a government in which the supreme power is vested in the people.
    One of us is a liar about our economic title and if America ever cracked down on corruption you’d have ever Senator in America yelling at the top of his lungs. US Senators’ average annual stock performance beat the market average by approximately 12.3%, while stock purchases made by corporate insiders on average outperform the market by 7.4% and stock portfolios of the average US household underperform the market by 1.5%.