“HU JINTAO DASHES HOPE FOR POLITICAL REFORM” (November 8, 2012)
Thus the Financial Times today. “Chinese president sets target to double per capita income,” elaborates the newspaper. Hope for political reform at the top gathering of Chinese leaders was only for the uninformed, anyhow. But doubling of per capita income is worthy of note at this juncture. The Chinese people want their crumbs, and the leadership will oblige. At least they will try to scatter them around. For that is the only way for those on top to privatize the key national assets without serious trouble from the bottom. The thicker the shower of crumbs, the less painful the transition. By the time the Chinese people figure out what is going on, it will be too late. And the shower will get thinner and thinner. By the next top gathering of Chinese leaders, which can be expected in a decade, the game will be over, or so they must hope. The burden is on the next president and prime minister, as well as twenty or thirty of their closest allies. But the main purpose of the present gathering is to confirm their names and posts. The transition crew. Next station, state capitalism.