Chinese state media has praised Prime Minister Narendra Modi’s war against black money, but has advised New Delhi to learn from China’s example to root out corruption in the country.
An op-ed in the state-run tabloid Global Times on Monday lauded Prime Minister Modi for being “truly up for a fiercer fight against black money and corruption” following his decision last week of invalidating currency notes of Rs. 500 and Rs.1000 denomination.
“Modi means well and his decision was made based on the reality in India, since most illegal business in the underground economy is cash-only and 500 and 1,000 rupee notes constitute over 80 per cent of all cash circulation in India.” It added that the “new policy to scrap India's two largest denomination rupee notes is considered a risky, but a bold and decisive step”.
Nevertheless, the daily cautioned that the Prime Minister’s initiative is not enough to root out corruption, as the war against graft would require structural changes. “The hard truth is that the corrupt and fraudulent won't just conduct shady deals by using cash, but with gold, real estate and overseas assets. Corruption can be bred in a variety of ways. Blocking the circulation of large currency bills is without question far from enough.”
The op-ed underscored that “New Delhi might need to look for ideas from Beijing” for reforming systems,” which would be the key to eliminate corruption.
It added that since the 18th National Congress of the Communist Party of China (CPC) in 2012, Beijing's anti-corruption campaigns have focused on investigation and the establishment of a legal system against corruption. “Over the years, China promoted anti-corruption laws, improved the supervision system, deepened judicial system reforms and adopted measures to make sure the system is transparent.”
“ For instance, China's Foreign Ministry has lately published information about the families of 12 senior officials on its website in an effort to fight against corruption through familial networks by improving transparency,” it observed.
