When discussing the subject of modern big-business, the concept of ethics usually comes into question. Whether it is a firms social responsibilities or its inner politics that are being evaluated, it is important for companies to understand that they are always under the watchful eye of the public. One article, from The Economist, caught my attention as it illustrated the unethical actions of the four largest banks in China. The article explains how the banks dishonestly worked their way to the top of global rankings by means of ”murky accounting, off-balance-sheet transactions and dodgy lending” (The Economist, 2013). Furthermore, the author goes on to describe how the banks are essentially so under control of the government that they are ”Cosseted by rules that protect them from competition, [and thus] they deliver huge profits” (The Economist, 2013). The examples presented in this piece effectively share the idea that the Chinese banking institutions are practicing unethical methods of banking. Ultimately, their credentials are being brought into question by myself due to the fact that if they were to be practicing in a free market system, there would be minimal to no government intervention.
Works Cited:
The Economist. 2013. The Economist. [online] [Accessed: 12 Sep 2013].
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