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China's post-congress market rout only makes reform less likely

Volatility will magnify Beijing's caution rather than its courage

| China
Xi Jinping, center, leads the new Politburo Standing Committee into an exhibition in Yan'an, China on Oct. 27: Investors might not like it.   © Xinhua/AP

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

The atmospherics out of China last month made for quite the split screen.

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