Is Corruption an Indian Monopoly?
Following our media stories, that dish out lurid details of corruption day in and day out, one may be forgiven for concluding that we are the only corrupt people on earth.
This is not intended to defend corruption in our country, but help understand that it is an universal phenomenon. Such understanding is essential, if we are to fight local corruption. For example, there is a rush to attract FDI. It is almost a mantra for development. Little do we realize that this "hot money" could be recycled black money generated or originated from here coming back. A very large percentage of FDI that flows into India is from companies in Mauritius. Why?
Secondly, we need to appreciate that when we try to take the help of foreign countries (with devices like, DTAT - Double Taxation Avoidance Treaties) that they too have corrupt and powerful people influencing their governments.
Here is a link to corruption in UK.