Dirty money cost China US$3.8 trillion: report

China has lost US$3.79 trillion over the past decade in money smuggled out of the country, a massive amount that could weaken its economy and create instability, according to a new report.

And the outflow - much of it from corruption, crime or tax evasion - is accelerating. China lost US$472 billion in 2011, equivalent to 8.3 per cent of its gross domestic product, up from US$204.7 billion in 2000, Global Financial Integrity, a research and advocacy group that campaigns to limit illegal flows, said in a new report.

via Business feed http://www.scmp.com/business/economy/article/1070188/dirty-money-cost-china-us38-trillion-report