noun
A political-economic term referring to an economic system in which business success depends on close relationships between business people and government officials. The Japanese synonym 縁故資本主義 is also used.
See also: 縁故資本主義
その国ではクローニーキャピタリズムが蔓延している。
Crony capitalism is rampant in that country.
Crony capitalism hinders healthy economic development.