The Panama papers really only make sense in the context of multinationals operating from regimes with some degree of transparency, i.e. the West, Japan, Singapore etc..
'Most' of the problems are in regimes where everything is nicely hidden i.e. Dubai, Moscow, anywhere in China.
Why would anyone do banking in Dubai, where there are absolute Monarchs who can do whatever, whenever, with their money, finances information, when they can go to US/UK/EU and have full legal protections? Because 'no transparency'. And that's it. Billions of USD intended for Afghanistan investment end up in bank accounts there etc..
I would expect people in Dubai, Moscow and China put their money in the WEST. How much money go to London every year? How much money go to Sydney? And Vancouver? Money will go to the so-called cities with transparency.
Actually I have to state what I believe: the only way to keep your corrupt money safe is to work with international institutes, bankers and layers in so called cities with transparency, such as London, Hong Kong, New York, Switzerland and so on. It is called money laundering. Keeping it in Dubai makes no sense. People may spend money in Dubai, but not keeping their wealth in Dubai.
'Most' of the problems are in regimes where everything is nicely hidden i.e. Dubai, Moscow, anywhere in China.
Why would anyone do banking in Dubai, where there are absolute Monarchs who can do whatever, whenever, with their money, finances information, when they can go to US/UK/EU and have full legal protections? Because 'no transparency'. And that's it. Billions of USD intended for Afghanistan investment end up in bank accounts there etc..
What we really need are the 'Dubai Papers'.