China stockmarket: Journalists, traders, officials rounded up in wake of ‘panic and disorder’

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China is going all coo coo bananas here lately. Not that arresting journalists and other people is outside the norm for The Ultimate Crony Capitalist State, but still. Tianjin, the yuan devaluation, the stock crash, this new explosion, the big military parade on the 3rd. Lots of stuff going on. Lots to keep the jailers busy.

(From The Sydney Morning Herald)

Xinhua said Wang Xiaolu, a reporter at the respected Caijing business magazine, had confessed to writing about the Chinese stock market “based on hearsay and his own subjective guesses” that “inflicted huge losses on the country and investors”.

Xinhua did not say if Wang wrote more than one story or detail what he reported.

Caijing could not be reached for comment. In a statement last Wednesday, a day after Xinhua said Wang was being held, Caijing said it had not been given a reason for his detention, adding it would support his actions within the normal course of reporting. It was unclear if Wang had a lawyer.

Chinese state media often publish confessions of those detained in high-profile cases before they are tried in court, a practice that rule of law advocates say violates the rights of the accused to due process.

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