How Chinese networks clean dirty money on a vast scale
These shadowy “banks” are becoming the financiers of choice for transnational criminal gangs
IT IS RARE these days for America and China to co-operate on anything. As The Economist went to press, America’s secretary of state, Antony Blinken, was on a trip to China, in part to press his hosts to stop sending weapons-related materials to Russia’s defence industries. He will be lucky to get a polite smile. So it is noteworthy that the two countries have recently decided to boost mutual support in another domain: the fight against money-laundering. This month they launched a bilateral forum to discuss the problem. Unlike Russia, it is a big one for both of them.
Explore more
This article appeared in the China section of the print edition under the headline “Mules and motorcades”
From the April 27th 2024 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
Wegovy hits the People’s Republic, at last
China mainlines “Musk’s miracle medicine”, at a fraction of the cost in America
China’s government is badgering women to have babies
It is testing an expanded pro-natalist playbook
China suffers eruptions from its simmering discontents
Amid random violence and increasing protests, fears mount for social stability
Trump, trade and feeding China’s pigs
As a trade war looms, China looks to cut its reliance on America
Helping America’s hawks get inside the head of Xi Jinping
China’s leader is a risk-taker. How far will he go in confronting America?
Snuffing out the flame of freedom in Hong Kong
Dozens of pro-democracy activists are thrown into jail for up to a decade