The Chinese government has blocked access to the New York Times and other news sources after an investigative report was released yesterday alleging that the Chinese prime minister's family become billionaires after he rose to power. See: "Billions in Hidden Riches for Family of Chinese Leader"
"Rent-seeking" is unearned income through manipulations of the market and government. The article states that "As prime minister in an economy that remains heavily state-driven, Mr. Wen, who is best known for his simple ways and common touch, more importantly has broad authority over the major industries where his relatives have made their fortunes. Chinese companies cannot list their shares on a stock exchange without approval from agencies overseen by Mr. Wen, for example. He also has the power to influence investments in strategic sectors like energy and telecommunications."
The report details numerous shady dealings in which relatives were given special treatment. The report notes: "Some Chinese argue that permitting the families of Communist Party leaders to profit from the country's long economic boom has been important to ensuring elite support for market-oriented reforms."
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