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Books > Social sciences > Politics & government > Political corruption
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China's Crony Capitalism - The Dynamics of Regime Decay (Hardcover)
Loot Price: R930
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China's Crony Capitalism - The Dynamics of Regime Decay (Hardcover)
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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, natural resources, and
assets in state-run enterprises. Mustering compelling evidence from
over two hundred corruption cases involving government and law
enforcement officials, private businessmen, and organized crime
members, Minxin Pei shows how collusion among elites has spawned an
illicit market for power inside the party-state, in which bribes
and official appointments are surreptitiously but routinely traded.
This system of crony capitalism has created a legacy of criminality
and entrenched privilege that will make any movement toward
democracy difficult and disorderly. Rejecting conventional
platitudes about the resilience of Chinese Communist Party rule,
Pei gathers unambiguous evidence that beneath China's facade of
ever-expanding prosperity and power lies a Leninist state in an
advanced stage of decay.
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