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Expose of Offshore Accounts Puts Spotlight on China’s Wealthy

Secret offshore bank accounts. Disguised corporations set up in the world’s tax havens. And, the sums involved in this concealment are staggering. This, according to a new investigative report, is China’s “lifestyle of the rich and famous.” And, it appears to reach right to the top of Beijing’s leadership. The size of China’s illicit capital outflows has been measured by financial watchdog group Global Financial Integrity at US $1.08 Trillion over the decade between 2002...

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