To have and to hold
China’s Crony Capitalism: The Dynamics of Regime Decay. By Minxin Pei. Harvard University Press; 365 pages; $35 and £25.95.
IN 1989 the movement for democracy brought the Chinese Communist Party to within days of extinction. According to official reports, on one day alone, May 22nd, 6m people joined demonstrations in 132 cities across the country. The party’s immediate response was to use the people’s army to crush the people by force, in Tiananmen Square. To rebuild the loyalty of those who would continue to rule in the party’s name, its leaders went on to create the conditions in which... read more
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