China's Ambiguous Economic Plan Following Third Plenum Criticized by Experts

China's 20th Central Committee Third Plenum concluded with a vague economic plan. Experts criticize the document for its lack of measurable goals and failure to address current economic issues. The removal of key military officials also drew attention, but discussions were muted online in China.

China recently concluded the Third Plenum of its 20th Central Committee, releasing a communique that lays out a vague economic plan, according to Voice of America. Experts have criticized the plan for lacking specifics and measurable goals, failing to address pressing economic issues in the country.

Shi He-ling, an Associate Professor of Economics at Monash University in Australia, expressed disappointment over the plan. He argued that the paper seems to merely bolster the ruling party's achievements rather than proposing actionable economic reforms. 'It reads more like a philosophical article, essentially clichéd,' Shi remarked.

Yeh Yao-Yuan, Chairman of the Department of Political Science at the University of St. Thomas in Houston, echoed these sentiments, attributing the limitations to the adherence to 'Xi Thoughts.' He added that the touted 'socialist market economic system' is unlikely to reverse China's economic decline and implied that Xi's reforms are a return to older methods.

The Plenum also drew attention for the removal of key military figures, including former Defence Minister Li Shangfu. Chong Ja Ian, an Associate Professor of Political Science at the National University of Singapore, noted that Beijing is wary of online discussions about CCP's personnel decisions, fearing such discourse could question the party's judgment, especially concerning Xi's previous confidant and former foreign minister, Qin.

(With inputs from agencies.)