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Two Weeks Notice: A Latin American Politics Blog Economics and Politics by Paul Krugman - The Conscience of a Liberal Economist's View Money Is Not Important China’s leadership transition doesn’t look good if you’re a foreign business - Quartz China’s 18th party congress began today. The country’s new leaders, whose identities will be formally revealed on or around November 15, look likely to be a fairly conservative group when it comes to economic and political reform. That shouldn’t harm China’s giant import and export markets, but it augurs badly for foreign companies, particularly in the banking and media sectors, who are hoping to get rich selling services to China’s close to 1.4 billion consumers. “The new leadership are closely allied with China’s state owned enterprises and will want to protect these companies, including the state-owned banks, from competition,” says Dr. John Lee, an associate professor at the University of Sydney who studies the various factions within the Communist Party. ”China’s current generation of leaders have also left a mess behind, socially and economically,” he adds. “The new leaders’ instinct will be to kick into survival mode economically. Here is what Dr.