The always perceptive Sean Corrigan has an essay over at Cobden that is well worth a read. there is one point with which I will take exception:
To understand why this was the case, consider the phrase a very senior member of the Chinese Communist Party recently employed: ‘the only two things that can threaten the regime are inflation and corruption’. So has it ever been, throughout China’s long history.
Although it may be inscrutable to Westerners, it is very likely that Bo Xilai was a victim of corrupt malefactors, and has been settled in a safe place until the malefactors are routed, upon which Bo Xilai will enjoy new found influence. The common reading of these events may very well be exactly backwards.
Feel free to forward this by email to three of your friends.
To understand why this was the case, consider the phrase a very senior member of the Chinese Communist Party recently employed: ‘the only two things that can threaten the regime are inflation and corruption’. So has it ever been, throughout China’s long history.
Given that, the observation that the 2009-10 stimulus delivered a massive, socially-imperilling dose of both these evils, it did not require too much nerve to hold to the idea that the relief of the monetary stringency gradually imposed (in the official markets for money and credit, at least) last year would be maintained until the fear of an imminent implosion rebalanced the scales of political calculus – above all, in this, a leadership transition year and doubly, trebly so when the Party apparat’s inner schisms were revealed with the dramatic purge of Bo Xilai and his Chongqing henchmen.
Although it may be inscrutable to Westerners, it is very likely that Bo Xilai was a victim of corrupt malefactors, and has been settled in a safe place until the malefactors are routed, upon which Bo Xilai will enjoy new found influence. The common reading of these events may very well be exactly backwards.
Feel free to forward this by email to three of your friends.
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