Corruption and economic success can cohabit

I do not want to suggest that data alone tells the story. After all, just as Australia has benefited from minerals in the ground to help boost its GDP levels, so many poorer nations with mediocre corruption scores have also increased their global GDP shares for similar reasons.

And it cannot be assumed that the West is always morally right. It may indeed be the case that the US, by encouraging dubious lending practices that boosted consumer demand and production around the world, caused an unsustainable economic boom that resulted in the global financial crisis.  

But the example of China is a concern on two counts. First, China’s high level of corruption may provide a new model of inspiration for corrupt policy elites around the world, as long as they can manage to organize in such an extensive way to attract investment.

Second, another 10 years of the same trends would see China’s economy rival the size of the US economy in gross terms. This would help China gain further influence around the world, a concern if China maintains fewer democratic restrictions in terms of what it does with its resources.

We are in for interesting times ahead. Western nations either accept their decline, or they do something about it.

I am not sure what the answers are, as there are always consequences from any reform, but a world where a new super power is aided by higher levels of corruption is not something I am looking forward to.