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China's Crony Capitalism: The Dynamics of Regime Decay

China's Crony Capitalism: The Dynamics of Regime Decay

by Minxin Pei

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Overview

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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Product Details

ISBN-13: 9780674737297
Publisher: Harvard University Press
Publication date: 10/03/2016
Pages: 376
Sales rank: 752,206
Product dimensions: 5.70(w) x 8.30(h) x 1.40(d)

About the Author

Minxin Pei is Tom and Margot Pritzker ’72 Professor of Government and Roberts Fellow, and Director of the Keck Center for International and Strategic Studies, at Claremont McKenna College.

Table of Contents

Introduction 1

1 The Origins of Crony Capitalism 23

2 The Soil of Crony Capitalism 49

3 Public Offices for Sale 78

4 Cronyism in Action 116

5 Stealing from the State 151

6 In Bed with the Mafia 183

7 The Spread of Collusion 216

Conclusion 256

Appendix 271

Abbreviations 293

Notes 295

Acknowledgments 353

Index 355

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