Core Viewpoint - The funding mechanism for river works in the Qing Dynasty reflects both the characteristics of traditional water management and the deep-seated contradictions within the feudal fiscal system, ultimately leading to a fiscal crisis that became a core issue in governance [1] Funding Mechanism - The funding for river works primarily relied on central government allocations and local special taxes, with a fixed annual collection system in place, but this design struggled to adapt to dynamic changes in disaster response or project scale [2] - The "compensation system" established during the Yongzheng to Qianlong periods linked project responsibility to economic losses, creating a tiered accountability structure among officials, which unfortunately led to corruption through inflated project reports [2] - The procurement of materials for river works was divided into official and commercial modes, with flexibility in procurement processes providing opportunities for corruption among officials [2] Causes of the Crisis - Systemic corruption severely undermined the effectiveness of river work, with officials engaging in fraudulent practices at various stages, leading to a significant misallocation of funds intended for river management [3] - Rising project costs due to inflation and outdated pricing mechanisms forced officials to inflate expenses, creating a vicious cycle of cost inflation and corruption that deteriorated project quality [3] - Rigid institutional frameworks hindered effective governance, with centralized decision-making processes causing delays and resource misallocation [4] - Fiscal imbalances led to competition for limited resources, resulting in the diversion of funds from river works to military and other expenditures, exacerbating the financial crisis [4] Impact of the Crisis - The fiscal crisis resulted in the collapse of river defense systems and significant social disasters, with the frequency of river breaches increasing dramatically, leading to widespread displacement and suffering among the populace [5][6] - Local governance became paralyzed under increasing fiscal pressure, with local officials resorting to heavy taxation and forced labor to cover funding shortfalls, leading to social unrest and revolts [6] - A crisis of trust emerged as corruption within river management offices eroded the moral authority of the Qing government, revealing the systemic failures of the feudal fiscal system [7]

Core Points - The article discusses allegations against the Marcos family regarding money laundering through gold transactions, with a whistleblower revealing evidence of 350 tons of gold and over $100 billion in assets linked to 18 bank accounts [1][3] - The investigation by the Hong Kong Monetary Authority has been initiated, focusing on transactions allegedly orchestrated by former First Lady Imelda Marcos between 2006 and 2011 [3][5] - The timing of the allegations coincides with upcoming midterm elections in the Philippines, which could impact President Marcos's political standing [3][5] Group 1: Allegations and Investigations - A businessman reported the Marcos family's money laundering activities involving 350 tons of gold, with the current value estimated at approximately 245 billion RMB [3] - The Hong Kong Monetary Authority has launched a special investigation into the Marcos family's illegal activities [3][5] - The transactions were reportedly facilitated by Imelda Marcos through shell companies and a bank in Hong Kong [3] Group 2: Political Context - President Marcos's approval rating has dropped to 25%, while Sara Duterte's approval rating stands at 59%, indicating a shift in public sentiment [5] - The political landscape is influenced by the historical context of the Marcos family's rule and the current rivalry with the Duterte family [5][13] - The article suggests that the allegations may be politically motivated, potentially orchestrated by the Duterte family to undermine Marcos [7][13] Group 3: Historical Background - The wealth of the Marcos family is traced back to former President Ferdinand Marcos, who was known for extensive corruption during his 20-year dictatorship [9][11] - Marcos's regime was characterized by collusion with foreign powers and significant embezzlement of national resources, leading to widespread poverty in the Philippines [9][11] - Despite the family's historical crimes, they have maintained a significant political presence, with Imelda Marcos's influence aiding her son's rise to power [11][13]