ALJAZEERA: …Corruption costs China some 10 percent of its gross domestic product (GDP), according to estimates by Shanghai-based independent economist Andy Xie Guozhong.
[economist Andy Xie Guozhong] told Al Jazeera that what he believes will be a protracted corruption campaign, which has already targeted other officials as well as international enterprises, will eventually take unnecessary weight off a flailing economy…
But in the immediate future, anti-graft measures may actually cost the nation by casting a shadow on consumerism as China struggles to rebalance its economy away from exports and investment and toward a more consumption-driven model… (more)
