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Sunday, July 8, 2012

China Banned Bloomberg

Bloomberg has suddenly found out that the wrath of the Chinese government can be really long-lasting. The company discovered that its news portals were blocked after the story involving the finances of the extended family of the Chinese Vice President.

The websites in question have been unreachable in the country for 5 days. Moreover, it seems that they are likely to remain that way, at least until the country decides who its next leader will be.

In response, Bloomberg made an official announcement that its portals were blocked by the Chinese government after the company published details about the multi-million dollar fortunes of the Chinese Vice President Xi Jinping’s extended family.

Xi Jinping, the Vice President, is expected by many to head a group of younger leaders who would take over the Communist Party from President Hu Jintao, and Premier Wen Jiabao. Meanwhile, the Bloomberg story didn’t say that any mysterious assets were traced to Xi, his wife or their daughter. The story also never mentioned that there were any indication the Vice President intervened to advance his family’s business transactions, or of any wrongdoing by him or his relatives.

The experts point out that China seems determined to guard against any signs of discontent, and it is obvious that the fact that a team of Young Turks might take over could destabilize things even further.

Meanwhile, Belina Tan, the Bloomberg’s representative, said in the interview that there had been no impact to the Bloomberg’s other services, such as terminal feeds used by the customers to access economic information and news.

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