On a
pedantic point of information, as
Wintersweet correctly points out, the
pinyin of the great poet's name is Li Bai in modern
Mandarin.
However, the "correct" pronunciation of the name follows a (now rare) classical reading - Li Bo. The character is of course the same, the bai that commonly means white or blank (白). The classical pronunciation can be seen when bai is used as the phonetic element in other characters, for example bo (伯) with the 'person' radical meaning uncle or with the 'wood' radical meaning cypress (柏) (The familiar romanisation seen in the node title looks like an example of Wade-Giles which used p to represent the consonant that pinyin now renders using a b).
More confusingly still, chances are that it was probably pronounced closer to modern Cantonese bak back in the day, if what I've read about Classical Chinese is correct, so this is, as I've said, pedantry.
But this is yet another of those quirks of the language designed to provide the eager foreigner with one more chance to show their ignorance of China's five thousand years of splendid culture. A chance I naturally took with open arms when offered. Hence the heads-up.