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Saturday, October 20, 2012

$100 Billion For China’s Railroads

$100 Billion For China’s Railroads

Picture a vast Chinese state institution with around two million staff, comprising a baffling array of units and sub-departments all scattered across the country. Under the guise of a sweeping, rapid modernization plan this institution’s budget expands so quickly – to around $100 billion a year – that it is hard for anyone to keep track of how much is really being spent, or on what. All the while, the institution’s sprawling nature and its near-autonomy mean that it operates almost entirely without accountability or oversight: There is only the money, and the many pockets into which it disappears.http://thediplomat.com/flashpoints-blog/2012/10/19/if-railways-are-this-corrupt-what-about-pla/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+the-diplomat+%28The+Diplomat+RSS%29

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