China shows that the World's largest corporates are not being treated like western nations treat them and where they literally let them get away with democratic murder against the people

When China decided to take GSK to task they were not doing this because they caught the transnational with their hand in the till or its equivalent, but to fire a shot over the bows of all the pharmaceutical giants not to mess around with China, projected to become the largest economy in another 9 years or so. Indeed as western governments have not 'really' taken these concerns to task when they have been found out for corrupt practices et al, even though China is a people-controlling state, someone has to stand up to them. In this respect according to the WHO pharmaceutical global sales to governments (not including the private sector) amount to $4.1 Trillion of public spending - http://www.investorschronicle.co.uk/2013/10/17/comment/chronic-investor-blog/the-ethics-of-pharma-kPawzkABd2K6Fxth9PfVnL/article.html

 

But between 10% and 25% of this $4.1 trillion is lost to Graft (a form of political corruption, and is the unscrupulous use of a politician's authority for personal gain)  and corruption per se .

Therefore the $17 billion in fines that the big 7 have agreed to pay in out of court settlements over the last 5 years is sheer peanuts. But it is no wonder that they operate in this way as their roots are based in near unspeakable times - http://foolscrow.wordpress.com/2010/07/27/return-to-nuremberg-big-pharma-must-answer-for-crimes-against-humanity/

And another recent exposé which has involved 20,000 girls from 10>14 years of age is http://www.newscientist.com/article/dn24421-badly-run-trials-behind-indian-drug-testing-freeze.html#.Um1Uqh5FCt8. Really human guinea pigs and because they were some of the poorest in the world. How low can these companies stoop? As far as it takes to line their pockets it appears.

Therefore even though I am not a supporter of China as they are on the road to economic monopoly, they are by holding these giant corporates to account, doing humanity a great service. I just wished that western governments had taken them to task and made them pay at least $50 billion for their previous illegal actions. Unfortunately as politicians are bought and sold in the West it is just a pipedream that I am having. One thing again about China, on past history their politicians are not for sale and if they are, they can either get executed or spend the rest of their life in a repressive Chinese jail.  Indeed, it's a pity that China can't deal with our bankers, as we might have a less corrupt financial system in the West.

Dr David Hill

Chief Executive
World Innovation Foundation