First published: Wall Street Journal Asia, 28/10/2013
Prospects for Reform at China’s Plenum
Beijing’s economic reforms will not be so radical as to jeopardize the status quo.
When the doors to the Great Hall of the People in Beijing open next month for the Third Plenum of the 18th Communist Party Central Committee (CPCC), the world’s attention will focus on whether there will be what President Xi Jinping has recently called “a master plan for reform.” Although Party leaders have of late raised expectations about economic change, indicating that reform is important to avoid a hard landing and a middle income trap amid slower growth, a comprehensive plan to overhaul China’s economic model is not likely on the agenda. China’s political economy won’t allow it….“more”: