Crony state capitalism

At the recent Chinese Communist Party Congress in Beijing, Hu Jintao duly denounced corruption. As it happens, his own Prime Minister Wen Jiabao has been exposed by the New York Times as having massed several billions dollars worth of fortune for his ‘joint’ family, including his old mother. If China had a free press or an RTI, more could be found about how the princelings have amassed fortunes.

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