Chinese leaders’ business affairs should be as clear as a US$15,000 crystal horse from Deutsche Bank squib

On Wednesday, The New York Times ran an intriguing story on its front page on how Deutsche Bank won business in China “by charming and enriching the country’s political elite”. It is fascinating mainly because the story is based upon internal confidential documents, prepared by the bank and its outside lawyers, that were obtained by the German newspaper Suddeutsche Zeitung. It showed how the bank had showered top Chinese leaders with lavish gifts, and their relatives and associates with…
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