The Third Plenary Session: Old Wine in New Bottles?
In this policy brief Kjeld Erik Brødsgaard and Kasper Ingeman Beck from Copenhagen Business School discuss the content and implications of the Third Plenary Session, held July 15-18, 2024.
The meeting produced a long document, “Decision of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization.” The title of the new authoritative document seems misleading, as its focus is not on fundamental reform of the political and economic systems, such as political pluralization and economic liberalization. Instead, the main focus is on “Chinese style” modernization. The document envisions a path to modernity focusing on innovation, science and technology.
Basically, the many reform proposals of the Decision do not go beyond tinkering with the system. On the political front, stronger Party leadership and increased Party Building are key focus points. Thus, any hope that China will implement genuinely new reforms as a response to the current economic downturn must be considered unrealistic. On the contrary, stronger Party leadership and increased Party Building are on the agenda.
