Adopting a patient approach will pay dividends

Does China's anti-corruption campaign help the economy? At first glance, it's hard to say. Looking into the near future, one just might say it doesn't.

This is because all the rules to make officials mind their behavior hold them back from spending their work time and public funds on entertaining themselves. And institutional spending, that done by organizations and most often by government offices, used to make up a hefty part of the nation's retail and service revenues. Except for some very wealthy individuals, officials and staff from State-owned enterprises tended to make the largest group of customers for luxury hotels and their banquet halls.

Not any longer. One wouldn't be surprised to learn if the national retail growth during the coming Lunar New Year holiday this year is softer than in previous years.