China’s Tough Economic Rebalance Just Got Tougher

Security guards stand outside the Jingxi Hotel, where Chinese officials were conducting the Third Plenum, a key economic meeting, in Beijing on July 15, 2024. Greg Baker/AFP via Getty Images

Commentary

China is on a mission to transform its economy by encouraging “new productive forces,” a phrase that was reasserted during the recently completed Third Plenum of the Chinese Communist Party (CCP), a twice-a-decade policymaking meeting.