The Long March from the Third Plenum
At the recent Third Plenum of the Chinese Communist Party's Central Committee, China's leaders produced a 60-point "resolution" covering six areas. But a shopping list of reform objectives – many of which were not as bold or novel as promised – is inadequate to address the deep contradictions undermining China’s development.
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BEIJING – Though China’s leadership succession was completed earlier this year, the policy agenda for the coming decade has only just been revealed. Following Chinese political tradition, the country’s new leadership had to wait for the Third Plenum of the Chinese Communist Party’s 18th Central Committee – held 3-4 quarters after the First Plenum, where the succession was sealed – to unveil its economic-policy priorities.