Rough Seas Ahead for China
June 8th, 2011
Global Financial Integrity has been warning about illicit financial flows (IFFs) out of The People's Republic of China for years. These outflows have ranged from an annual US$169 billion in 2000 to US$344 billion in 2008. Dev Kar, Lead Economist for GFI, notes trade mispricing, which is the practice of underpricing exports or overpricing imports in order to shift illegally capital abroad, is “the major channel for the transfer of illicit capital from China.” The country is also, by far, the largest transmitter of illicit financial flows...
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