We should encourage python api developers to follow best practices, which includes things like the best place to stick config.
For this we can use the kritarc, but better might be to use the qstandardpaths, so that the plugin config doesn't become yet another folder messing the home folder up.
Application.readSetting("pluginconfiggroup", "key", str())
and
QStandardPaths::writableLocation(QStandardPaths::AppConfigLocation)