Quite a lot going on this week, boys and girls.
We have a date for the start of the 19th Party Congress – October 18 – so make sure to keep away from Beijing during that period if you can as security will surely be more horrendous than ever before. Guo Wengui is continuing to push out gossip ahead of the big day, and Those in Command have got so annoyed there is a new allegation against him of rape – all aimed at getting the Americans to kick him out. Fat chance of that. He and Ling Wancheng, wherever they are, are two of the safest individuals in the world right now.
Not so safe is Wang Jianlin whose Wanda property group appears to be not too big to fail. There was what appears to be a shorting rumor that he and his family were caught trying to escape Lin Biao-style on a private plane, and it shook the markets just because it was so plausible. Someone made a lot of money off that. Shares in Wanda’s AMC cinema chain in the US also fell 45%, which is not going to help stabilize the Wang family fortunes.
As to top-level politics, we’ll find out more when October rolls round, but it appears Li Keqiang gets to stay put for the full 10 years, which is very considerate of Those in Command. A clean sweep for the Xi faction is expected, which tosses aside the balance between power groupings maintained since 1989. It doesn’t feel to us like a recipe for a long-term stability, but who knows? It’s less transparent but more interesting than US politics, and, boy, is that saying something.
All the best for the weekend and the week beyond.