China scapegoat

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The Independent Online
(First Edition)

CHINA'S political leaders have chosen their first scapegoat to blame for the country's overheating economy, writes Teresa Poole in Hong Kong.

Li Guixian, governor of the People's Bank of China, is this week expected to be replaced by Zhu Rongji, the Vice-Prime Minister, who is taking charge of the drive to rein in the runaway economy and stem soaring inflation.