by Barry Naughton
March 18, 2014
The Third Plenum, a major political and economic policy meeting for China’s new leadership, basically fulfilled the expectations placed on it, as it responded adequately to the credibility crisis that confronts Chinese policy today. New challenges of interpretation and implementation now rise to the fore. With the creation and staffing of the Reform Leadership Small Group, the initial outlines of the implementation process are coming into view. These show continued strong commitment to the goals of economic reform, but significant risks of reform strategy and implementation persist.