BP 11 Panama Papers Tie More of China’s Elite to Secret Accounts

An article in the New York Times brings up new news on some of China’s political leaders having money tied up in hidden offshore companies. This could be something that other countries should look into to see if anything else is being hidden from the public.

Three of the seven leaders in the Chinese Communist Party including president  Xi Jinping  have been found to have secretive accounts in some hidden companies. These documents leaked are known as the Panama papers. The leaders have attempted to block all ways of finding info on these papers in china. You cannot search “Panama Papers” on the web and all other info on the documents have been blocked. Though having money in companies like this are not illegal in china it gives me a weird feeling that they are trying to block something more than just those documents. In fact, a number of citizens have money in offshore companies in China and it is a good way to earn more income for a family.

As stated above, this gives me a weird feeling that something else is being pushed into a dark corner with the release of these documents and it makes me wonder of what other political leaders are hiding information or country decisions from the public. As discussed in class, if we use the fiduciary model with politics we see that we elect these officials and put our trust in them to make the proper decisions that will be best for the country or state. We the client trust the professional is working in our best interest and is always open with that work. If leaders are hiding crucial information this can break this model and things will fall apart. Though China is a communist party and the leaders can do basically whatever they want it is hurting their relationships with other countries more than its relationship with their people because their allies won’t like that these documents are being hidden from them as well. This could bring some more problems for China if more documents are released down the road.

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