We are of course concerned with the problems that American firms face when they are required to compete in foreign markets against companies which are able to give bribes. We don t want to see Americans disadvantaged and markets lost. But this is not the sole reason, or even the main reason, for our Committee s concern.
Corruption undermines the basis of that growth and stability, particularly in the developing world.
It deters investment and it wastes precious external and internal resources. It demoralizes entrepreneurs and ordinary citizens who deserve good government. And corruption defeats democracy, because those corruptly enriching themselves will be unwilling to turn power over to democratically elected successors. They therefore have an added incentive to entrench themselves in power. And the corrupt have an additional, unfair advantage because their ill-gotten gains provide them with the resources to widen their advantages over any opposition.