Experts Criticize China’s New Economic Plan After Third Plenum
After China completed the Third Plenum of its 20th Central Committee with a 5,000-word communique issued on July 18, experts expressed dissatisfaction with the Chinese Communist Party’s (CCP) latest plan. They described it as vague and lacking measures to address China’s current economic problems.
Expert Opinions
Shi He-ling, an Associate Professor of Economics at Monash University in Australia, expressed disappointment with the outcome of the Third Plenum. He mentioned that the plan merely sells out the achievements of the ruling party and criticizes previous party leaders but misses any specific measurable definitions. Shi said, “It does not make macroeconomic adjustments at all but is like a philosophical article, which is basically a cliche.”
Yeh Yao-Yuan, the Chairman of the Department of Political Science at the University of St. Thomas in Houston, US, added that under the framework of “Xi Thoughts,” it is difficult for the economic exposition of this communique to be new. He also mentioned that despite repeatedly promoting their “socialist market economic system,” it will not reverse China’s economic decline and Xi’s economic reform is in fact “changing things to their old ways.”
Public Reaction
The CCP statement received 100 million views on Weibo, China’s social media platform. However, there was no substantial discussion of the same in China.
Personnel Changes
Another decision taken at the Plenum that gathered attention was the removal of former Defence Minister Li Shangfu. Additionally, Li Yuchao and Sun Jinming of the People’s Liberation Army’s (PLA) Rocket Force were also removed from the Central Committee.
Chong Ja Ian, an associate professor of political science at the National University of Singapore, commented that Beijing dislikes Chinese people arguing online about the CCP’s high-level personnel because comments might call into question the party’s decisions and judgement, especially as Qin was previously Xi’s close confidant and the foreign minister.
Doubts Revealed
Third Plenum -: A Plenum is a meeting of a political party’s leaders. The Third Plenum is the third such meeting of the current Central Committee of China’s Communist Party.
20th Central Committee -: This is a group of top leaders in China’s Communist Party, chosen during the 20th National Congress to make important decisions.
Shi He-ling -: Shi He-ling is a professor at Monash University, which is a big university in Australia.
Yeh Yao-Yuan -: Yeh Yao-Yuan is a professor at the University of St. Thomas, which is a university in the United States.
Weibo -: Weibo is a popular social media platform in China, similar to Twitter in India.
Li Shangfu -: Li Shangfu was China’s Defence Minister, a very important job in the government, but he was removed from his position.
