Will turmoil in Chinese politics have an economic impact?
This week Bo Xilai was fired as party chief in the city of Chongqing, which would not cause waves in most nations, but given he was considered a hero of the 1949 revolution it is noteworthy. And provided a rare glimpse into the political infighting within the ruling party.
As noted by Businessweek the ousting of a popular figure will also have an impact on China’s economy.
The Christian Science Monitor sees it as a positive sign for political reform in the communist country, noting that a leading reform, Wen Jiabao, stated publicly that “without a successful political reform, it’s impossible for China to fully bring economic reform, and the gains we have made in these areas may be lost.”
“He even warned of a possible return to the “historical tragedy” of the 1966-76 Cultural Revolution – a stab at Bo’s political platform. He praised the Arab Spring, saying “this trend towards democracy cannot be held back by any force,” the paper editorialized.