Money-laundering rules in China: reconciling global economic integration with party control
Several mechanisms have given momentum to a global movement for rationalization of national rules against money laundering. But the adoption of rules in China has not been straightforward, Sebastian Heilmann and Nicole Schulte-Kulkmann write in the current issue of Governance (24.4, October 2011), because of the “powerful role of secretive Communist Party bodies” in national governance. Chinese leaders want to promote integration into the global economy, but do not want to jeopardize the “core prerogative of Communist Party control.” The result? A “stark gap between strict formal regulation in the law books and feeble implementation in administrative and judicial practice.” Read more: The Limits of Policy Diffusion: Introducing International Norms of Anti-Money Laundering into China’s Legal System.