Financial Transparency Coalition

When it comes to transparency and development, Asia is home to many paradoxes. China is ready to overtake the United States as the world's largest economy, but also home to rapidly rising income income inequality. Hong Kong, China's Special Administrative Region, is meanwhile the world's fastest growing tax haven. And, as you will see in the presentation below, Asia is also home to alarming levels of endemic corruption and of financial opacity. High income inequality can undermine social cohesion, create barriers to social and economic mobility, and result in increased corruption and cronyism. Meanwhile, illicit financial flows erode...

This report "A confused economy", highlights the distortions between the real economy and the indicators that guide the G20 and the International Financial Institutions. Investments, trade, savings, production- the report shows how the use of offshore financial centres makes any measurement of these indicators impossible. At the heart of this economic lie, the report points to the important role of multinationals and banks- the top users of tax havens.