China Fights Corruption in Banking Sector

Article Review

By: Thomas Monteon

Article by: Simon Montlake

Article title: "Are China's Leaders Serious About Tackling Corruption? Normura Says Yes"

 Article Link: http://www.forbes.com/sites/simonmontlake/2013/03/26/are-chinas-leaders-serious-about-tackling-corruption-nomura-says-yes/

            Forbes’ article, “Are China's Leaders Serious About Tackling Corruption? Nomura Says Yes” by Simon Montlake, questions the effectiveness of Xi Jingping to end corruption in China. The article relies on sources and opinions given by investment bank Nomura. Nomura’s business is spread globally and has its roots in East Asia, with headquarters in Japan, China, Taiwan, etc. Stated on the their webpage, “Nomura is a leading financial service group and the preeminent Asian-based investment bank with worldwide reach.” So Forbes offers a perspective from an investment bank that has a lot at stake when businesses face corruption. However, Nomura has expressed that it does feel Xi Jingping’s campaign against corruption is genuine. The author explains how Nomura feels China’s leaders are taking steps in the right direction. Arguing that China’s reformist desire structure changes over economic growth. Montlake writes various steps that Nomura argues are helping combat corruption. An influence on reducing corruption in China is demonstrated by its leaders to set the example by removing themselves and their families from the private business firms. Strides toward this goal have been made Nomura argues, as Xi Jingping’s family has said to be leaving the telecommunication business. Analysts working for Nomura claim that China so committed to end corruption that even economic growth will be put second to this issue. This article shows us that China has won over some of the business investors with its anti-corruption campaign. If a worldwide investment bank like Nomura can trust China, then what problems should China business partners have? Montlake seems to question the endurance of China’s officials to fight corruption. Calling the readers to the attention of former premier Wen Jiabao and the scandal that exposed his family. Wen Jiabao was the focus of a New York Times article, which calls to attention the money made by his family during his time in office. This article shows there is faith in China, at least by Nomura, to stop corruption. China’s current leaders seemly have been taken steps to avoid corruption by leading by example. How long until another is exposed? What impact will it have on investment firms like Nomura? China faces a big problem with its image and now its up to its new leader Xi Jingping to stop corruption.