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This book debunks one of the most popular and strong assumptions about economic development: that corruption hurts economic growth. Therefore, eradicating corruption in the government is generally thought of as a precondition of sustained economic development. However, the Chinese economy that has been one of the fastest growing economies in the past three decades is plagued with widespread corruption. Ang breaks down conventional wisdom about corruption and argues that not all corruption is the same, and that in all instances corruption does not hamper growth. Ang argues that corruption is a fundamental feature of capitalism, and some types of corruption that involves elite political actors and high monetary stakes and the allocation of valuable resources such as land and legislations can actually spur investment, and thereby economic development. However, corruption has other implications for resource allocation, systemic risks, and inequality.