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China-Japan-Koreas
China's economic destiny in doubt after leadership shock
2012-11-06
The forces of reaction and economic folly threaten to prevail in China. The long political arm of Jiang Zemin has reached out from the shadows to thwart reform, with huge implications for Asia and the world.

If reports from the Hong Kong press and China's blogosphere are correct, a remarkable upset has occurred on the eve of the ten-year power shift next week -- the greatest turn-over of top cadres since Mao's revolution.

The South China Morning Post says the new line-up of the Politburo's Standing Committee is "packed with conservatives". The succession deal agreed over the summer has been scuppered.

The 86-year Mr Jiang -- who rose to supreme leader on the bones of Muxidi and Tiananmen in 1989 -- has placed his accolytes in charge of the economy, propaganda, as well as the Shanghai party machine.

The hardliners seem poised to snatch control of the seven-man Committee, tying the hands of incoming president Xi Xinping and premier Li Keqiang. If confirmed, long-term investors may have to rethink their core assumption about the future course of China.

Posted by:trailing wife

#6  "America's economic destiny in doubt after election shock." Sounds about right assuming the Dems carry Ohio.
Posted by: rjschwarz   2012-11-06 22:06  

#5  Anybody who ever thought they were really gonna reform is a fool.
Posted by: Ebbang Uluque6305   2012-11-06 11:33  

#4  Thier approach to note they hold regarding America's debt will be not so nice.
Posted by: Bugs Uleger6376   2012-11-06 09:18  

#3   If confirmed, long-term investors may have to rethink their core assumption about the future course of China.

Mildred, a memo to the Kissinger Foundation if you would please. I'm unable to reach them by phone.
Posted by: Besoeker   2012-11-06 07:01  

#2  I'd like to know if there was a regional component to this.
Posted by: Thing From Snowy Mountain   2012-11-06 01:18  

#1  Remember, folks...they're still commies.
Posted by: tu3031   2012-11-06 00:16  

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