The historically slow development of the Chinese economy may be attributable to

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Quizplus · Accepted Answer

Rent-seeking refers to the practice of seeking economic rent (i.e. income in excess of what is necessary to produce goods or services) through nonproductive means, such as lobbying for special privileges or engaging in corrupt practices. This behavior can distort markets and divert resources away from productive uses, ultimately hindering economic growth. In the case of China, rent-seeking has been identified as a significant obstacle to the development of a more market-oriented economy.

The Historically Slow Development of the Chinese Economy May Be