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Is your neighor a princeling or related to one?

Started by Riversider
almost 13 years ago
Posts: 13573
Member since: Apr 2009
Discussion about
http://www.nytimes.com/interactive/business/princelings.html Evidence is mounting that the relatives of many current and former senior officials in China have amassed vast wealth, often playing central roles in businesses closely entwined with the state, including those involved in finance, energy, domestic security, telecommunications and entertainment. Many of these so-called princelings also serve as middlemen to a host of global companies and wealthy tycoons eager to do business in China.
Response by 9d8b7988045e4953a882
almost 13 years ago
Posts: 236
Member since: May 2013

This type of cronyism will only become more common as govt involvement in the economy increases. An aristocracy of pull is created where businessmen are rewarded more for their political connections than for their business skills.

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