While “crony capitalism” is a very close Western equivalent, it's important to distinguish 官商勾结 from the Western concept of “lobbying.” Lobbying, in countries like the United States, is a regulated and (in theory) legal process of influencing government policy. 官商勾结, on the other hand, almost always refers to explicitly illegal activities like bribery, embezzlement, and quid-pro-quo exchanges that happen “under the table.” It is not about influencing policy in the open, but about breaking the law in secret for direct personal enrichment. It is the dark, criminal side of the intersection between power and money.