Unfortunately once they deem BTC an annoyance, we will see the same moves against it as we see now in the US.
i actually can't think of a country better than China that might want to adopt Bitcoin or at least support it.
when Hong Kong was turned over to Communist China back in the 1997, everyone was fearful that you'd see the army march into the streets of Hong Kong and destroy the most free, open, and prosperous economy in the world. instead the Communist Party had the vision to leave it alone and in fact adopt many of the free market principles upon which the HK economy had been built. hence, we got one of the greatest growth stories out of mainland China during the 2000's. it became clear that the Communist Party likes to make money and they've made lots of it.
one of the main goals of a Communist Party is to stay in power by controlling its citizens. they've realized that by pegging the yuan to the USD their corporations have benefitted greatly but understand that the purchasing power of the yuan has suffered. they've actively encouraged their ppl to buy gold as a store of value. imagine that. they've long complained about the USD as the reserve currency and have been rebuffed at adding the yuan to the IMF currency basket.
now along comes Bitcoin. most computer hardware is manufactured in Asia, if not China. look at Avalon and Asicminer prosper. they have cheap labor. Chinese are more technically savvy than the average global citizen. if i sat on the Communist Party, i would at minimum leave the Bitcoin experiment alone as it could be a great wealth transfer mechanism away from the USD reserve currency and to the Chinese ppl. i'm sure the Communist Party is smart enough to work that to it's advantage.
