Friday, March 23, 2012

China Rattled by Wild Coup Rumors

Rumors and whispers of rifles and coup plots, power struggles between "Maoists" and "economic reformers" … read all about it here. A specter is haunting China….

In fact, there is a struggle--between two immensely privileged factions of the Chinese Communist Party. One faction, known as neo-Maoists, or the New Left, basically champions the cause of the left-behind poor as political cover for profiting from and preserving the power of state-owned companies. The other faction, representing the richest party members, dreams of getting even richer through privatization schemes.

Both factions fear a popular uprising, another Cultural Revolution run amok, which would again result in a military crackdown.