China's new leaders crack down

Decisions to send Bo Xilai to trial, audit local government debt and curb state-owned enterprise credit show China’s new leaders are getting serious about reform.

As the new leadership further consolidates its grip on power, three significant announcements have been made in the past week underscoring the leadership’s growing political confidence and willingness to tackle some of the big challenges facing China. These have been continuing to crack down on corruption and abuse of Party power and privilege, addressing municipal indebtedness, and correcting some of the imbalances created by state-owned enterprises’ easy access to credit (which has resulted in overcapacity in key industries).

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