Wooing China’s Princelings
It is premature to conclude that JPMorgan Chase violated US law by employing children of senior Chinese officials. Nonetheless, the case highlights a broader and more troubling trend: the wooing of China’s "princelings" by Western universities and businesses in order to advance their interests in the burgeoning Chinese market.
CLAREMONT, CALIFORNIA – China’s “princelings” – the offspring of senior Chinese officials who benefit from lavish privileges in education, employment, and business – are coming under scrutiny as never before. Bo Xilai, the son of one of Mao’s comrades and a supposed “immortal” of the revolution, was recently sentenced to life in prison after his conviction on charges of corruption and abuse of power.