JP Morgan Chase's Hiring practices have been under scrutiny! Some suggests that JP Morgan Chase is simply following cultural practice of focusing on building relationship with one of the biggest emerging investment market in the world. Other suggests that it is bribery & corruption.

How is hiring the "next generation" of Chinese elites different from practices here in North America. Is it the same as Clinton's daughter securing a job at a hedge fund company?

What are some of the moral principles involves here and what are some of the consequences of this practice? How does any company stay competitive if others choose to conduct unethical business practices?

Please provide a detailed suggestion on this question.