Bribery: Political Corruption and Business

Topics: Political corruption, Corruption, Bribery, Developed country, Developing country, Foreign Corrupt Practices Act / Pages: 22 (5283 words) / Published: Dec 3rd, 2012
Corruption One of the most widespread forms of corruption is Bribery. Now let me begin with the general definition of bribery and to make you clearly understand about corruption. Bribery is the crime of giving and taking money or some other worth items in order to influence public official and it is also including of paying to get government contracts. In addition, a bribe can consist of immediate cash or of personal favors, a promise of later payment, or anything else the recipient views as valuable (Bribery, n.d.). For more information, the sectors that bribery most involved are in construction sector, followed by the utilities, real estate property and energy sectors respectively. And businesses with minimal graft are in agriculture, small industries sectors, Aerospace sector, and information technology sector. There is no doubt that corruption, prevalent in emerging economies around the globe, throws economic development into chaos. This can affect decisions made by bureaucrats which it degrades the quality of those in power, and discourages foreign investment. It is also a gradually hot business issue, with a growing amount of influential business and political leaders throughout the world regularly pinpointing corruption as one of the greatest threaten to global economic improvement. Corruption and Bribery has moved to the front in discussions about business. I agree with a sentence that “bribing is a fast way to get the business done.” Whereas it is slightly not that truth that Corruption is not unacceptable, but corruption or bribery are just unavoidable acts. So, corruption is all over the world. As long as human alive, corruption will exist. Not only developing countries, but also developed countries have experiences in some degree of corruption not more or less. According to the statistic of the bribe payers index, it ranked the exporting countries in terms of the companies are perceived to be paying

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