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Relationships between political and business elites are crucial in determining a nation's political-economic trajectory. Especially for authoritarian regimes that feature capitalist growth, understanding such relationships and why they change over time can tell us much about the fundamental nature of a regime and its degree of stability. In Precarious Ties, Meg Rithmire offers a novel account of the relationships between business and political elites in three authoritarian regimes in developing Asia. She introduces two conceptual models that explain the variation and instability found in state-business relations in authoritarian regimes.

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In 'Precarious Ties', Meg Rithmire offers a novel account of the relationships between business and political elites in three authoritarian regimes in developing Asia: Indonesia under Suharto's New Order, Malaysia under the Barisan Nasional, and China under the Chinese Communist Party. All three regimes enjoyed periods of high growth and supposed alliances between autocrats and capitalists. Over time, however, the relationships between capitalists and political elites changed, and economic outcomes diverged. While state-business ties in Indonesia and China created dangerous dynamics like capital flight, fraud, and financial crisis, Malaysia's state-business ties contributed to economic stagnation. To understand these developments, Rithmire presents two conceptual models of state-business relations that explain their genesis and why variation occurs over time.

Authoritarianism --- Industrial policy --- Patronage, Political --- Asia --- Politics and government. --- Industry. --- Industry & industrial studies.

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China's contemporary political economy features an emboldened role for the state as owner and regulator, and with markets expected to act in the service of party-state goals. How has the relationship between the state and different types of firms evolved? This Element situates China's reform-era political economy in comparative analytic perspective with attention to adaptations of its model over time. Just as other types of economies have generated internal dynamics and external reactions that undermine initial arrangements, so too has China's political economy. While China's state has always played a core role in development, over time prioritization of growth has shifted to a variant of state capitalism best described as, "party-state capitalism," which emphasizes risk management and leadership by the Chinese Communist Party (CCP). Rather than reflecting long-held intentions of the CCP, the transition to party-state capitalism emerged from reactions to perceived threats and problems, some domestic and some external. These adaptations are refracted in the contemporary crises of global capitalism.This title is also available as open access on Cambridge Core.

Capitalism --- Political aspects --- China --- Economic policy

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