Can China Save Itself from Crony Capitalism?

Likely not. Sadly.

(From The Asia Sentinel)

The deleterious effect of cronyism goes beyond the looting of state assets. While such corruption allows related and connected individuals to acquire vast wealth illicitly, it also generates self-perpetuating dynamics because the circle of cronies is exclusive in nature and their mutual bonds are constantly reinforced through marriage, networking, and business dealings.

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