China's Crony Capitalism Pei Minxin
When Deng Xiaoping launched China on the path to economic reform in the late 1970s, he vowed to build "socialism with Chinese characteristics." More than three decades later, China's efforts to…
Specifikacia China's Crony Capitalism Pei Minxin
When Deng Xiaoping launched China on the path to economic reform in the late 1970s, he vowed to build "socialism with Chinese characteristics." More than three decades later, China's efforts to modernize have yielded something very different from the working people's paradise Deng envisioned: an incipient kleptocracy, characterized by endemic corruption, soaring income inequality, and growing social tensions. China's Crony Capitalism traces the origins of China's present-day troubles to the series of incomplete reforms from the post-Tiananmen era that decentralized the control of public property without clarifying its ownership.Beginning in the 1990s, changes in the control and ownership rights of state-owned assets allowed well-connected government officials and businessmen to amass huge fortunes through the systematic looting of state-owned property--in particular land,