Blog: 'Something big happened in Beijing'

Blog: 'Something big happened in Beijing': "In a one party dictatorship, there is no smooth transfer of power to the next generation of leaders. The aging Central Committee was set to hand off power to a younger group of leaders later this year. That is now up in the air as it appears possible that the old guard is not quite ready to step aside yet. For what it's worth, this unsettling news from China has triggered a sharp jump in credit default swaps on Chinese government bonds. Some smart money is betting on big changes coming soon."