Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

China: Has There Been a Coup of a Coup?

admin by admin
April 1, 2012
in Uncategorized
0
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter

Econintersect:  In China official political news is very tightly controlled and this leads to a situation where rumors can achieve great traction.  That is what wang-lijunappears to have happened in the past month.  There have been a few, often anonymous websites that claimed such things as tanks rolling on Beijing streets, military vehicles on the streets of other cities, shots fired near the compound of the Communist Party’s leadership and leaders being seized by the government because they were about to disclose corruption.

There is a great deal of tension in China as the country approaches the decennial change of top leaders later this year.  The rumors reflect that tension.  What has happened that has fueled the rumors are actions against the leadership in the city of Chongqing where Wang Lijun (pictured), deputy mayor and police chief, was taken away by Chinese state security in late February  after he sought refuge and was turned away from a U.S. Consulate.

bo-xilaiSMALLWang and his boss, Chongqing mayor and Communist Party Secretary Bo Xilai (pictured), have been outspoken on behalf of traditional communist ideals, including the Cultural Revolution of Mao Zedung.  They have also received much notice for an active anti-corruption campaign in which more than 1,500 alleged gangsters have been arrested, according to The Sydney Morning Herald.  One of the so-called Chongqing mafia (a former justice bureau chief) was executed after being found guilty of rape and bribery.  According to Wikipedia there had been a much wider corruption dragnet beginning in 2009:

The Chongqing gang trials were a series of triad-busting trials in the city of Chongqing that began in October 2009 and concluded in 2011. Carried out under the auspices of municipal Communist Party chief Bo Xilai and police chief Wang Lijun, a total of 4,781 suspects were arrested, including nineteen suspected crime bosses, hundreds of triad members, and a number of allegedly corrupt police, government and Communist party officials, including six district police chiefs and the city’s former deputy police commissioner, Wen Qiang.[1] Time described it as “China’s trial of the 21st century”.[2] The crackdown is believed to be the largest of its kind in the history of the People’s Republic of China. Concerns over due process surfaced following the trial, including allegations of torture, forced confessions, and intimidation.[3]

It is not clear if missteps in the anti-corruption campaign, or even corruption on behalf of either Wang or Bo themselves is at the root of the removal of the two from government life; or whether they were removed because of their seeming support of Maoist principles.  From Willy Lam in Asia Times (6 March):

The keen advocate for political reform, Premier Wen, has criticized certain cadres’ nostalgia for the Maoist era, stating, for example, last year “A major obstacle to reform is the remnant poison of the Cultural Revolution.”

This week the Chinese government has cracked down on the internet rumor mills.  Last night (31 March) BBC News China reported that six people had been arrested, 16 websites shutdown and two popular blog sites had restricted comments on blog posts.  From BBC News China (31 March):

The State Internet Information Office (SIIO) said the rumours had a “very bad influence on the public”.

Two popular microblogs have temporarily stopped users from posting comments.

The two sites, Sina Weibo and Tencent Weibo, are still letting people post to their own sites. But they said commenting on other people’s posts would be disabled between 31 March and 3 April, so they “could act to stop the spread of rumours”.

A spokesman for the SIIO told state news agency Xinhua earlier that the two websites had been “criticised and punished accordingly”.

He added that that a number of other people had been “admonished or educated”.

So rumors of a coup have been plentiful.  What actually happened may have been the removal of a dissident faction within the Communist Party hierarchy, or a coup of a coup, so to speak.  Or it may relate to the correction of corruption by one or more who had been seen as corruption fighter(s).  The actual facts in the case may never be known.

The uncertainty has led to investment analysis about what stocks might benefit from the political action in China.  See the Investing Blog article today by Keith Fitz-Gerald.

John Lounsbury

Sources:

  • China power play:  anti-corruption officials vanish (John Garnaut, The Sydney Morning Herald, 01 April 2012)
  • Damaging coup rumors ricochet across China (Damian Grammaticas, BBC News China, 22 March 2012)
  • Hu draws blood in Wang Lijun scandal (WillyLam, Asia Times, 6 March 2012)
  • China scandal:  Bo Xilai allegations ‘preposterous’ (Michael Bristow and Martin Patience, BBC News China, 29 March 2012)
  • China arrests over coup rumors (BBC News China, 31 March 2012)
  • Chongqing gang trials (Wikipedia)

 

Previous Post

Two Views of Money: Keen and Krugman

Next Post

Will Austerity Come Home to Germany?

Related Posts

10-Year Dormant Bitcoin Whale Resurrects, Transfers $38.1M Worth of Bitcoin
Econ Intersect News

10-Year Dormant Bitcoin Whale Resurrects, Transfers $38.1M Worth of Bitcoin

by John Wanguba
June 10, 2023
Bitcoin Whales Invest Aggressively As Small Holders Divest
Economics

Bitcoin Whales Invest Aggressively As Small Holders Divest

by John Wanguba
June 7, 2023
Why Is The SEC Suing Binance?
Business

Why Is The SEC Suing Binance?

by John Wanguba
June 6, 2023
Bitcoin Has Been ‘Killed’ 474 Times But Its Still Alive And Kicking
Economics

Bitcoin Has Been ‘Killed’ 474 Times But Its Still Alive And Kicking

by John Wanguba
June 5, 2023
Japanese Regulators Issue Stern Warning To OpenAI For Data Collection
Business

Japanese Regulators Issue Stern Warning To OpenAI For Data Collection

by John Wanguba
June 5, 2023
Next Post

Will Austerity Come Home to Germany?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin adoption Bitcoin market blockchain BTC business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Archives

  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • 10-Year Dormant Bitcoin Whale Resurrects, Transfers $38.1M Worth of Bitcoin
  • Bitcoin Whales Invest Aggressively As Small Holders Divest
  • Why Is The SEC Suing Binance?

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish