ASIA Monograph Series: China and The World | Volume 1 | August 2024
Title: Deciphering the Third Plenum: Sweeping Reforms?
Authors: Prof. Amogh Rai, Aurko Chakrabarti and Priyanka Garodia
Background
In a time of mounting economic and geopolitical pressures, China’s 2024 Third Plenum stands at a critical crossroads. Historically having initiated significant economic transformations, this Plenum arrives as the nation grapples with a slowing economy, a looming debt crisis, and rising public discontent. The Plenum’s proposed reforms aim to revitalise domestic consumption while restructuring state-owned enterprises. However, critics argue that these measures are too vague to effectively address the challenges at hand. Amidst these economic uncertainties, China’s involvement in multiple global conflict has subject it to increased global scrutiny. It has strained trade relations with major powers like the United States and the European Union adding to its trouble.
The Third Plenum’s outcomes extend beyond economics, emphasising national security, military modernisation, and Xi Jinping’s vision for China’s ascent as a global power. The Plenum reinforced Xi’s political dominance, with further consolidation of power and a continuation of the anti-corruption campaign that has removed several senior officials. Yet, despite gestures toward a more welfare-oriented state, the overall reforms have been criticised for their lack of coherence. As China navigates this complex landscape, the 2024 Third Plenum raises more questions than answers about the country’s future direction and the Chinese Communist Party’s capacity to steer it through turbulent times.
Access the full paper here: OSF | Deciphering The Third Plenum
DOI 10.17605/OSF.IO/D24K7
Copyright: Creative Commons Attribution 3.0 license (CC BY 3.0)
