Opinion Piece: China’s Third Plenum all about muddling through
In this piece for Asia Times, Bruegel Senior Fellow Alicia García-Herrero takes a closer look at the outcomes of China’s Third Plenum.
Land system reform to drive urbanisation, fiscal reform anchored in stronger centralisation, and a continuation of innovation of industrial policy were some of the noteworthy takeaways. While these measures are clearly meant to address key challenges in the Chinese economy, they generally indicate a Chinese government doubling down on its own conviction, which is not likely to suffice if China is to fully address the challenges it faces.
