First published: LSE Ideas 06-08-2024
The Third Plenum was mainly about politics, not economic reform.
In the face of continuing, systemic economic drags in China, highlighted by the publication of weak second quarter growth, the authorities moved swiftly after the end of the Third Plenum of the 20th Central Committee in mid-July to demonstrate a sense of concern.
The Third Plenum was not oblivious to the plight of the economy and to the frustrations that many Chinese households and firms must be experiencing. China’s economic growth has slowed significantly, needs regular stimulus to meet government GDP growth targets, and is experiencing numerous systemic problems including stalled productivity growth, over-investment, misallocation of capital in infrastructure and housing, a rising burden of debt, a boom-to-bust property market and high youth unemployment. Read on …..https://blogs.lse.ac.uk/cff/2024/08/06/politics-not-economic-reform-a-review-of-chinas-third-plenum/
