PANAMA PAPERS, THE CHINESE CONNECTION
The latest revelations to emerge from the Panama Papers focus on the family members of top China Communist Party members, including the brother-in-law of President Xi Jinping, Bo Xilai’s wife and a distant relative of Mao Zedong. According to The Guardian, these relatives are part of China’s “red nobility,” “whose influence extends well beyond politics.”. Clients from China and Hong Kong of Panama law firm Mossack Fonseca reportedly represented the firm’s biggest source of business, with a total of about 40,000 companies linked to them in the confidential documents.
- Meanwhile in Iceland, a new prime minister has been named after Sigmundur Gunnlaugsson resignation, and early elections will be held in the fall. The political crisis is giving a huge boost to anti-establishment movements, among them the Pirate Party, which now enjoys 43% of popular support.
