Friday, October 08, 2010

Liu Xiaobo and The Prize

The calculus of China politics being what it is, the awarding of the Nobel Peace Prize to imprisoned dissident Liu Xiaobo is most likely a set back for reformists within the PRC.  Look for lots of spicy reaction from China over the weekend. 

China's willingness to allow the RMB to appreciated 2% this year, regardless of U.S. election-year rhetoric to the contrary, is impressive, if not pragmatic.  Power in China is political, not macroeconomic.  State Capitalism has driven China to explosive growth over the past thirty years, but I am not sure how personal liberty fits into the balance.

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