New details have been uncovered in the embezzlement scandal involving the Shanghai line of China's high speed rail network. The missing amount has been determined to be 187 Million Yuan or 28.5 million USD, which is a significant amount despite the large overall sum of money being sun into the project.
Obviously this kind of crime brings into question the methodologies used in assessing the value of the network, and the approval process. This is yet another instance of the dual nature of China, huge potential combined with a shady underbelly. Read more at wsj.com
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