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Shanghai office bolck 's'

The Deng Xiaoping Finance Building in Chengdu.

OverviewEdit

In 2005, Palau passed its first bank regulation and anti-money laundering laws after the 2002 Deng Xiaoping Finance Building money laundering affair with China.

backgroundEdit

Sino-Japanese relations began to thaw after the 1982-1984 coal for cars treaty was signed, leading to an economic upturn. Palau joined Chengdu Pact in 1995. Legislation making Palau an 'offshore' financial center was passed by the Senate in 1998.

The Deng Xiaoping Finance Building in Chengdu was built in 1999 and is the headquarters fro several major Chinese banks. Palau also had a reputation as a dodgy tax haven at the time.

The incident Edit

The outcomeEdit

A major crackdown on corruptions in Chinese banks and  a Japanese import/experts company was dealt with. A Thia drug load was hung in Shanghai, on the 4th of May, 2004. In 2005, Palau passed its first bank regulation and anti-money laundering laws. China forced the nations of the Economically Unified States of South East Asia (EUSSEA) in to tackling the drugs trade with China and Palau to a lesser degree.

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