{"id":1783,"date":"2013-12-11T18:00:24","date_gmt":"2013-12-11T17:00:24","guid":{"rendered":"http:\/\/www.politicseastasia.com\/staging\/3558\/?p=1783"},"modified":"2013-12-11T18:39:18","modified_gmt":"2013-12-11T17:39:18","slug":"chinas-new-economic-reforms","status":"publish","type":"post","link":"https:\/\/www.politicseastasia.com\/staging\/3558\/studying\/chinas-new-economic-reforms\/","title":{"rendered":"China\u2019s New Economic Reforms \u2013 Is the PRC\u2019s Leadership on the Right Track?"},"content":{"rendered":"<h2>A Discussion with Students at Leiden University and Rotterdam\u2019s School of Management<\/h2>\n<p>Over the past years, discussions about China\u2019s role in world have shifted from whether or not China would become an economic power, to the <em>kind<\/em> of power the PRC might turn out to be.\u00a0Consecutive rounds of economic reforms have made China the second largest economy in the world and a major motor of regional and global economic growth. This success story has left an impression in countries that are currently experiencing economic down-turns.\u00a0As a\u00a0<a title=\"2013 PEW survey on world opinion of China's economy\" href=\"http:\/\/www.pewglobal.org\/2013\/07\/18\/worlds-leading-economic-power\/\" target=\"_blank\">recent global opinion survey<\/a>\u00a0showed, a significant amount of people around the world erroneously believe that China has already surpassed the US as the world\u2019s strongest economy. Following the debt crisis in the US and the financial crisis in the EU, expectations have been high that Chinese economic growth will carry the world economy, and that Chinese state investments might\u00a0<a title=\"The Guardian: &quot;China's chance to be our economic saviour&quot;\" href=\"http:\/\/www.theguardian.com\/commentisfree\/cifamerica\/2011\/sep\/22\/china-world-economic-saviour\" target=\"_blank\">come to the rescue of ailing European and American markets<\/a>\u00a0\u2013 despite\u00a0<a title=\"Xinhua: China Will Not Be 'Savior' of Europe\" href=\"http:\/\/www.ibtimes.com\/china-will-not-be-savior-europe-debt-crisis-xinhua-363034\" target=\"_blank\">explicit statements from the Chinese authorities<\/a>\u00a0to the contrary.<\/p>\n<p>Meanwhile, the Chinese government has taken steps to move away from its export-led economic growth model. It has tried to expand domestic consumption and cool its economy following <a title=\"BBC: &quot;China moves again to cool economy&quot;\" href=\"http:\/\/www.bbc.co.uk\/news\/business-12981820\" target=\"_blank\">the massive government spending<\/a> that had assured growth in the wake of the world financial crisis. In 2011, the authorities unveiled their <a title=\"Xinhua summary of 12th Five-Year Plan\" href=\"http:\/\/news.xinhuanet.com\/english2010\/china\/2011-03\/05\/c_13762230.htm\" target=\"_blank\">12th Five-Year Plan<\/a>, which means to keep GDP growth at seven percent, promises sustainable development, promotes an urban service-industry, and aims to improve innovation and social welfare. In November of this year, the Chinese Communist Party outlined a new set of economic reforms at its <a title=\"Official website of the Third Plenum of the CCP's Central Committee\" href=\"http:\/\/www.china.org.cn\/china\/third_plenary_session\/node_7193886.htm\" target=\"_blank\">Third Plenum<\/a>, which among other things focus on further liberalizing China\u2019s state-owned enterprises, allowing more room for market economics, further involving the rural areas in China\u2019s economic growth, and improving environmental protection.<\/p>\n<p>In our previous discussions, we have covered specific areas of China&#8217;s economic development, ranging from issues in the <a title=\"China\u2019s Nonperforming Loans \u2013 A Perennial Problem?\" href=\"http:\/\/www.politicseastasia.com\/staging\/3558\/studying\/chinas-nonperforming-loans\/\">financial markets<\/a> and in <a title=\"Chinese Currency Reforms \u2013 What Will World Trade Look Like with a Freer RMB?\" href=\"http:\/\/www.politicseastasia.com\/staging\/3558\/studying\/chinese-currency-reforms\/\">international trade<\/a> to questions about <a title=\"China\u2019s Grey Future? How the Demographic Shift Affects the PRC\" href=\"http:\/\/www.politicseastasia.com\/staging\/3558\/studying\/demographic-shift-in-china\/\">demographic developments<\/a>, <a title=\"Is China Becoming a Knowledge Economy?\" href=\"http:\/\/www.politicseastasia.com\/staging\/3558\/studying\/is-china-becoming-a-knowledge-economy\/\">innovation<\/a>, and <a title=\"The Crisis of China\u2019s Environmental Pollution: What Does It Take to Clean Up the PRC?\" href=\"http:\/\/www.politicseastasia.com\/staging\/3558\/studying\/chinas-environmental-pollution\/\">environmental protection<\/a> in the PRC. This week, in our final debate of the year, we will take stock of China\u2019s current economic policies, and will discuss how the PRC\u2019s development strategy affects the East Asian region and the world economy as a whole. How well is the Chinese government equipped to deliver on the promises of the Third Plenum and fulfil the targets of its current five-year plan? Are the authorities on the right track to address China\u2019s enormous domestic challenges and turn the PRC into a high-income country, or is the country faced with too many trade-offs that simply cannot be overcome in the short term? Are the high\u00a0expectations\u00a0regarding China&#8217;s positive economic role in the world warranted? Share your\u00a0views and ideas with us in the comments section below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How well are the recent Chinese plans for further economic reforms equipped to deliver on the promises of the Third Plenum and the current five-year plan? Join our discussion with students from Leiden University and Rotterdam&#8217;s School of Management.<\/p>\n","protected":false},"author":1,"featured_media":1784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"nf_dc_page":"","footnotes":""},"categories":[46],"tags":[43,104,127,108],"class_list":["post-1783","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-studying","tag-china","tag-economy","tag-foreign-trade","tag-reforms","post_format-post-format-image"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China\u2019s New Economic Reforms \u2013 Is the PRC\u2019s Leadership on the Right Track? - Politics East Asia<\/title>\n<meta name=\"description\" content=\"How well are the recent Chinese plans for further economic reforms equipped to deliver on the promises of the Third Plenum and the current five-year plan?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.politicseastasia.com\/staging\/3558\/studying\/chinas-new-economic-reforms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s New Economic Reforms \u2013 Is the PRC\u2019s Leadership on the Right Track? - Politics East Asia\" \/>\n<meta property=\"og:description\" content=\"How well are the recent Chinese plans for further economic reforms equipped to deliver on the promises of the Third Plenum and the current five-year plan?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.politicseastasia.com\/staging\/3558\/studying\/chinas-new-economic-reforms\/\" \/>\n<meta property=\"og:site_name\" content=\"Politics East Asia\" \/>\n<meta property=\"article:published_time\" content=\"2013-12-11T17:00:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-12-11T17:39:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.politicseastasia.com\/staging\/3558\/wp-content\/uploads\/2013\/12\/XiJinping_950x480opt.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"950\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Florian Schneider\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Florian Schneider\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/studying\\\/chinas-new-economic-reforms\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/studying\\\/chinas-new-economic-reforms\\\/\"},\"author\":{\"name\":\"Florian Schneider\",\"@id\":\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/#\\\/schema\\\/person\\\/a140bd5ce2c4c52fdeb2b628bc80a1bb\"},\"headline\":\"China\u2019s New Economic Reforms \u2013 Is the PRC\u2019s Leadership on the Right Track?\",\"datePublished\":\"2013-12-11T17:00:24+00:00\",\"dateModified\":\"2013-12-11T17:39:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/studying\\\/chinas-new-economic-reforms\\\/\"},\"wordCount\":479,\"commentCount\":7,\"image\":{\"@id\":\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/studying\\\/chinas-new-economic-reforms\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/wp-content\\\/uploads\\\/2013\\\/12\\\/XiJinping_950x480opt.jpg\",\"keywords\":[\"China\",\"economy\",\"foreign trade\",\"reforms\"],\"articleSection\":[\"Studying\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/studying\\\/chinas-new-economic-reforms\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/studying\\\/chinas-new-economic-reforms\\\/\",\"url\":\"https:\\\/\\\/www.politicseastasia.com\\\/staging\\\/3558\\\/studying\\\/chinas-new-economic-reforms\\\/\",\"name\":\"China\u2019s New Economic Reforms \u2013 Is the PRC\u2019s Leadership on the Right Track? 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