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Corruption in Asia May Be Getting Worse: EY Survey

  • Ethical standards not improving, EY Asia-Pacific survey shows
  • Millennials more capable of justifying some behaviors, EY says
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Photographer: Brent Lewin/Bloomberg

Just as China embarks on a massive Silk Road development funding initiative, a survey of business practices suggests corruption in Asia is only getting worse, adding potential potholes to new deals.

Despite anti-graft initiatives under way from China to India, the survey by EY -- formerly known as Ernst & Young -- found that "ethical standards are not improving." Some 63 percent of respondents said that bribery or corrupt practices "happen widely" in their country, up from 60 percent in 2015. And 35 percent cited bribery as "common practice" to win contracts in their industry or sector, up from 31 percent in the 2015 survey.