When Cheng Li, a US-based China scholar, recently surveyed a coterie of studied the 22 top government leaders loyal closest to president Hu Jintao, China?s president, he hit on one striking finding ? found none had any experience in of foreign trade or finance. The senior coterie, officials, now in charge of ministries in Beijing and provincial governments, outside of the capital, all served in the Communist Youth League, long long a Hu power base, and all have their roots in rural politics.

The Chinese economy may be is more exposed to global trade, and dependent on reforms of its financial system, than at any time in its modern history. But in Mr Hu?s China, nothing is seen as more valuable to a leader than an appreciation of the conditions in which way about 800m, or two-thirds, of Chinese live, on tiny family farms and in small townships.