The illegal transfer of party-owned and state-owned assets to private hands is a common occurrence in countries when they shift from a dictatorial to a democratic system of government.
The recent money-laundering scandal in Russia is one of the more dramatic instances of the appropriation of state-owned assets in that country. Under the banner of privatization, the ruling class in Russia systematically diverted state assets to their own, or their families', private accounts, laundering their assets abroad to wipe away any trace of their actions.
Similar scams have been occurring in Taiwan over the past few years, although their operations have been much less obvious. The scandal at Taiwan Fertilizer (
Although the scandal appears complicated, it is, in fact, all very simple. Ruling groups (
The scandal at Taiwan Fertilizer is not a special case, but just one chapter in the long story of the KMT's divestiture of state assets and their unlawful appropriation of profits. The funeral of a relative of one of those involved in the scandal was virtually a ritual marking the alliance of business and government interests. Of course, those involved in the scandal denied knowing each other after the scandal was revealed in the media.
The speed of asset divestiture has increased recently as the KMT is worried it may lose its position as the ruling party in future elections. The scandal at Taiwan Fertilizer is just the tip of the iceberg, and was only exposed in the media because it involved internal power struggles within the KMT. Stay tuned for more scams.
Nan Fang Shuo is the publisher of The Journalist magazine.
The gutting of Voice of America (VOA) and Radio Free Asia (RFA) by US President Donald Trump’s administration poses a serious threat to the global voice of freedom, particularly for those living under authoritarian regimes such as China. The US — hailed as the model of liberal democracy — has the moral responsibility to uphold the values it champions. In undermining these institutions, the US risks diminishing its “soft power,” a pivotal pillar of its global influence. VOA Tibetan and RFA Tibetan played an enormous role in promoting the strong image of the US in and outside Tibet. On VOA Tibetan,
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