Rumors of a coup in Beijing ricocheted around the Chinese Internet on Tuesday according to a Wall St Journal report and even caused the cost of credit default swaps on Chinese debt to rise slightly. That's remarkable considering there wasn't one iota of evidence that shots were fired at the Diaoyutai State Guest House or tanks were taking to the streets, as viral microblog posts had it.
But then consider that a month ago, Wang Lijun, an official of vice ministerial rank, sought asylum in the U.S. Consulate in Chengdu. Last week, his boss Bo Xilai, the popular party secretary of Chongqing, was dismissed from his post six months before a national leadership transition. In these strange days, it's easy to see why Chinese citizens may believe reports of a coup….
Read all about it at http://online.wsj.com/article/SB10001424052702304724404577295060978784338.html?mod=googlenews_wsj
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