Expert Viewpoints on China's Economic Reform Program

Avoiding the Blind Alley: China's Economic Overhaul and Its Global Implications

In the newly released report Avoiding the Blind Alley: China’s Economic Overhaul and Its Global Implications, produced by the Asia Society Policy Institute in collaboration with Rhodium Group, Daniel H. Rosen argues that the economic reform program announced at the Third Plenum in November 2013 is broadly convergent with advanced-economy policy concepts; that reform is moving forward with purpose and urgency, though with varying paces and levels of accomplishment from one area to the next; and that successful reform should bring about substantial economic gains for China and the world. The Asia Society Policy Institute asked various analysts and scholars to provide their own views on whether China’s leaders called for the right reforms in various economic areas, and whether those reforms are likely to succeed.

Expert Viewpoints

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“The Chinese government is well aware of the fact that the ecosystem for innovation in China is still immature and in need of significant changes.”
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“In my view the most important of the many commitments is to ensure that the market is the decisive factor in the allocation of resources and to eliminate all but natural monopolies.”
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“The Third Plenum’s reform plan has set up ambitious measures which will further accelerate China’s transformation to be an innovative society.”
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“While seemingly fresh, many of the reform measures in fact are nothing more than affirmation of previous or existing (and often ineffective) policies.”
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“Financial reform is the most eye-catching reform in China. It is both critical and imperative.”
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“Based on current government documents, the depth of these reforms falls short of the rhetoric, and many challenging issues are left untouched.”
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“I am cautiously optimistic that China will be able to accomplish a great deal on the environmental front.”

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    This major report examines the economic reforms announced at China's Third Plenum in November 2013, assesses progress in implementing reforms, and projects their economic impacts.
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    Part One explains the context and analytical approach for “Avoiding the Blind Alley: China’s Economic Overhaul and Its Global Implications,” an ASPI report produced with Rhodium Group.
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    Daniel H. Rosen and others discuss China’s economic reform plans and the findings from “Avoiding the Blind Alley,” a report from the Asia Society Policy Institute with Rhodium Group.