

Outcomes of China’s Third Plenum: A Conversation with Scott Kennedy
5 snips Aug 1, 2024
Scott Kennedy, a senior adviser at CSIS and an expert in Chinese economic policy, discusses the implications of China's Third Plenary Session. He highlights the lack of drastic changes in economic measures but warns of challenges from the leadership's statist approach. The conversation reveals the link between national security and economic strategies, focusing on high-tech development as a key to reducing reliance on foreign industries. Kennedy also shares cautious predictions for China's economic growth in the next two years amid various domestic challenges.
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Third Plenum Significance
- The Third Plenum, held annually by the Chinese Communist Party, often focuses on economic policy.
- Historically, Third Plenums have marked significant economic shifts, like the 1978 move towards marketization.
Hopes vs. Expectations
- Observers hoped the Third Plenum would signal a shift towards market liberalization due to China's economic slowdown and rising tensions.
- However, expectations were that the leadership would maintain its current statist course.
Statist Approach
- The Third Plenum's decision document reaffirms China's focus on advanced technologies and reducing inequality, but with a statist approach.
- The document emphasizes the market's importance while simultaneously portraying it as a tool of the state.