Page "Crony capitalism" Paragraph 8

States often said to exhibit crony capitalism include the People's Republic of China ; India, especially up to the early 1990s when manufacturing was strictly controlled by the government ( the " Licence Raj "); Indonesia ; Argentina ; Brazil ; United Kingdom ; Malaysia ; Israel ; Russia ; the United States ; Tasmania ; and most other ex-Eastern Bloc states.

Wu Jinglian, one of China's leading economists and a longtime champion of its transition to free markets, says that it faces two starkly contrasting futures: a market economy under the rule of law or crony capitalism.