China Third Plenum: Delusion

Posted: November 14, 2013 in Uncategorized
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The first communique out of the Plenum is full of rhetoric and very short on action.

There seem to be no concrete action in liberalization and it reiterated the full support  of the State Owned Enterprise. It seems that the Party hard liner have won.

The only three concrete steps – for now – is a softer approach to the one child policy, the introduction of a new National Security Committee (which integrates the various Armies in a Central Command) and a “Central Leading Team for Comprehensively Deepening Reforms” (no specs there).

This could be a real set back for China. And I mean real. But we need to see the real communique and if the National Security Commitee will be used by Xi Jinping to deal with the adversary before committing to reforms.

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