China’s currency hit a 19-year high against the U.S. dollar on Friday. Not coincidentally, on the same day the yuan rose to 6.238 against the greenback, disgraced former Politburo member Bo Xilai suffered his latest indignity, with the official Xinhua News Agency announcing his removal from the National People’s Congress, China’s rubber-stamp legislature. “According to the law on deputies to the NPC and to local people’s congresses,” the NPC Standing Committee said in a statement, as reported by Xinhua, “his post was terminated.”
The latest setback for Bo comes a month after he got booted from the Communist Party and is another sign China is back on track for the leadership transition set for early next month.
looking beyond borders 