Why has China grown so fast for so long despite vast corruption? In China's Gilded Age, Yuen Yuen Ang maintains that all corruption is harmful, but not all types of corruption hurt growth. Ang unbundles corruption into four varieties: petty theft, grand theft, speed money, and access money. While the first three types impede growth, access money - elite exchanges of power and profit - cuts both ways: it stimulates investment and growth but produces serious risks for the economy and political system. Since market opening, corruption in China has evolved toward access money. Using a range of data sources, the author explains the evolution of Chinese corruption, how it differs from the West and other developing countries, and how Xi's anti-corruption campaign could affect growth and governance. In this formidable yet accessible book, Ang challenges one-dimensional measures of corruption. By unbundling the problem and adopting a comparative-historical lens, she reveals that the rise of capitalism was not accompanied by the eradication of corruption, but rather by its evolution from thuggery and theft to access money. In doing so, she changes the way we think about corruption and capitalism, not only in China but around the world.
✔ Author(s): Yuen Yuen Ang
✔ Title: China's Gilded Age
✔ Rating : 4.3 out of 5 base on (85 reviews)
✔ ISBN-10: 1108745954
✔ ISBN-13: 9781108745956
✔ Language: English
✔ Format ebook: PDF, EPUB, Kindle, Audio, HTML and MOBI
✔ Device compatibles: Android, iOS, PC and Amazon Kindle
Readers' opinions about China's Gilded Age by Yuen Yuen Ang
Thea Bell
I'm still in awe of the intricate plot and the way everything seamlessly came together. The twists kept me guessing until the very end. It's one of those rare books that leave a lasting impact.
Josephine Alvarez
I loved the powerful messages hidden within the story. The book tackled important social issues and made me ponder the world we live in. It's a must-read for everyone.
Iris Watts
I'm already planning to reread this book. It's one of those stories that you can revisit again and again, discovering new layers of meaning each time.
