Corruption Crackdown Targets Shanghai Inc. – James Areddy
With its gleaming towers and explosive growth, this city has helped inspire dreams of a China century. Governed for four years by a British-educated architect named Chen Liangyu, Shanghai exuded a can-do attitude that welcomed foreign investment and showcased China’s emergence on the world stage.
But underneath the boom and glitter, Communist Party leaders in Beijing say, lay a secret: massive corruption.
Last fall, the party fired Mr. Chen, alleging mismanagement and theft at a city pension fund, influence peddling and other misdeeds. It detained him at an undisclosed location. There, he has made no public comment.[Full Text]
(Photo: Pension-fund money was used to complete Shanghai’s futuristic Tomorrow Square in 2003.)