Corruption Crackdown Targets Shanghai Inc. – James Areddy

From The Wall Street Journal:

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.)

February 6, 2007 11:17 AM
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Categories: Politics