Since the new President Xi took office reform has been mentioned in several articles I have read about China. The “third plenum” will bring together Chinese Leaders in an effort to set policy for years to come. Currently, promoting relations with Taiwan, relaxing government regulation in the financial sector, and “overhaul land and household registration rules to sustain growth”. This meeting will not likely propose legislation or concrete plans for going about these policies but simply explain what the new government wants to accomplish in the next 17 years. The economy, as usual, takes priority and currently leaders hope to beginning bring high paying jobs to China.
After reading this article, I wanted to comment on two points the government might push for at the third plenum. With the current urban expansion at the expense of many rural communities, if the government were to further relax household registration rules might this only speed the loss of laborers in the agricultural sector? This continues to be one area that the Communist Party has sought to change from the Great Leap Forward Years. Might the Chinese government try to promote large companies to farm thousands of acres of land like some companies that farm the American Mid West? Finally as seen in the past 5 years relaxing regulations in financial sectors can have negative consequences. American companies played fast and loose with home mortgages that could not be repaid. Corruption is a problem in America but on all accounts(other than possibly Chinese citizens as we learned in class) the National Government keeps a hand in all business that occurs in China. If regulations that are already overlooked or ignored are completely taken away might corruption spread farther and quicker through all sectors of the Chinese Economy? If the Chinese manufacturing sector goes belly up like the American Automotive… who would step up to replace the Chinese Economic Giant?