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That rumour
was the defection of the Governor of the Bank of
China, Mr. Zhou Xiaochuan, to the United States,
ostensibly because he was under surveillance and
perhaps even house arrest due to losses sustained by
the Bank in its investments in US treasury securities.
These rumours had been very tenuous and very
amorphous for several days, and we chose not to
discuss them here given then tenuousness. However,
yesterday the rumours reached a crescendo and were
causing a great deal of concern in the European and
N. American capital
markets. This
morning those
rumours are
subsiding, although
Mr. Zhou has not
made an official
appearance either in
Beijing or
Shanghai… yet. Mr.
Zhou was last seen
on August 26th on
Chinese television, and we would expect to see him
very publically in the next day or two, or the rumour mill
will begin to turn once again.
What these rumours show is the ubiquity of the internet
anywhere and everywhere around the world. Even in
the People’s Republic, where the “net” is supposedly
“shutter-able” by the Beijing,
news/rumours/innuendo
spreads like the proverbial wildfires
across a prairie. Given
that Mr. Zhou has not yet made
a public appearance, rest very
much assured that these
rumours will almost certainly be
resurrected again until such
time as he does make an
appearance, but for now there is sufficient quasi-official denial of his defection to allow
us to say that these rumours are only that… rumours
and not fact. |
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