China’s leaders must embrace democracy

China’s leaders must embrace democracy As the Chinese Communist party inaugurates its new leadership, a question on the minds of many Chinese and western observers is whether the party will allow democratic reforms in China.

The answer they get from the party this time, as on previous similar occasions, is unambiguous: the CCP has no intention to give up power. In his opening speech to the 18th party congress last week, Hu Jintao, the outgoing general secretary, dispelled any doubts about the party’s resolve to keep its political monopoly. He pledged that the leadership would “never take the evil road of changing flags and banners” – code for abandoning one-party rule.
http://link.ft.com/r/QM42II/XBH53Z/UUPHQX/5V3UHN/OFURFT/VU/h?a1=2012&a2=11&a3=15

Cnooc – gutsy call

The state-controlled energy company has generated robust returns but it risks turning into China’s Gazprom. By Julia Grindell and Robert Armstrong http://link.ft.com/r/5F39HH/RP30KC/QFRUDM/QN4XT5/GYQ52A/RF/h?a1=2012&a2=11&a3=15