Reversal of fortunes

18 April 2012 By John Foley Follow @johnsfoley

British officials are unlikely to get an open, politics-free probe into the death of Neil Heywood, a Brit connected with disgraced Chinese statesman Bo Xilai. Politically and economically, Britain’s hold over China has dwindled. It’s not just Bo whose fortunes have reversed.

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William Hague, Britain’s foreign secretary, called on China to investigate the death of UK subject Neil Heywood without “political interference” on April 17. Heywood was a close contact of disgraced Chinese politician Bo Xilai, whose wife Gu Kailai has been held on suspicion of his murder.
Prime Minister David Cameron raised the Heywood case when he met Li Changchun, a member of China’s top Politburo, on April 17. Li said the case was being investigated “in full accordance with the rule of law”.
Heywood was found dead on Nov. 15 in a hotel room in Chongqing. British officials at the Chongqing consulate were notified on Nov. 16.
British officials formally requested that the Chinese authorities investigate Heywood’s death three times in the latter half of February, and again thereafter, but received no formal response.
UK Chancellor of the Exchequor George Osborne said on April 18 that he hoped London could become a leading centre for trading China’s currency, the yuan. His comments came as HSBC, the UK based lender, announced it would issue London’s first yuan-denominated bond.

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Money‚ Markets & Macroeconomics

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