Hiring the Well-Connected in ChinaBy
It’s rough going for China’s elite. This week the show trial for Bo Xilai, the purged politician who is one of the country’s most high-profile princelings, or children of top-level officials, is scheduled to open. In the days before the Bo trial begins, the New York Times reports the U.S. government is looking into one of the tried-and-true ways for China’s privileged offspring of government, party, or military leaders to get ahead: Land jobs with Western banks eager to do business with their relatives. The Securities and Exchange Commission, the Times reports, is investigating JPMorgan Chase to see if the bank hired the children of Chinese officials to help its business.
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