Amid Crises, China Sets 2020 Tone With Secret Plenum Meeting Next Week


Amid Crises, China Sets 2020 Tone With Secret Plenum Meeting Next Week

The Chinese Communist Party (CCP) is expected to hold a long-delayed meeting next week, according to several state media sources, as the country experiences a wide range of issues, such as social and economic chaos in Hong Kong, a trade war between the US, and the possibility of sub 6% GDP in mainland China in 2020. 

Global Times reported Friday that the closed-door, secret meeting would be held from Oct. 28-31 in Beijing.

Xinhua News Agency reports that President Xi Jinping will speak at the event on Thursday.

Members of the CPC, the Communist Party’s elites, are expected to discuss several important topics, including “issues concerning how to uphold and improve the system of socialism with Chinese characteristics and modernize China’s system and capacity for governance,” the Global Times said. 

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Plenum, what the meeting is technically called, is the convening of the CCP’s Central Committee to discuss policy and country direction. 

Last year’s plenum was delayed, so next week’s meeting will be important as communist elites discuss policy and country heading to navigate the trade war with the US and address policy that will further create a soft landing for the economy. 

“The fourth plenum will implement reform plans, and they will talk about how to improve governance, which is pressing,” one Chinese policy insider told Reuters on condition of anonymity. 

“They need to transform the overall state governance capacity and adapt to changes in global rules and withstand stress tests from external risks,” the insider said, adding that the trade war is exacerbating such pressures.

Wang Jiangsu, director of the Asian Law Institute at the National University of Singapore, told Reuters that President Xi would likely say that the Chinese political system is superior to the Western world. 

Analysts at the Washington-based Center for Strategic and International Studies (CSIS) said a trade war with the US and decelerating economy had left President Xi with an internal power struggle. 

Sinocism blog’s Bill Bishop wrote on Monday that some CPC members would be pushing for immediate trade war solutions as the economy slows. Some are expected to push for the removal of all tariffs to improve the business environment. 

So far, China shows no slowdown in the restructuring of its domestic economy. When it comes to the trade war, Washington and Beijing have made recent efforts to talk and allow China to obtain new US agriculture purchases, but it seems a complete trade deal is far away. 

The trade war is really about a power struggle between China and the US, and mainly, who will control the world after 2025. So China has been laying out roadmaps with meetings of how it will be the next global superpower, something that has infuriated Washington. 

Tyler Durden

Fri, 10/25/2019 – 21:40


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