Chinese Plenum Announcements Disappoint But Reforms Still in Horizon

November 13, 2013 Share Print 0

The bland statement following China’s hotly anticipated Third Plenum meeting of the Communist Party’s 18th Central Committee has left many analysts feeling flat, but some have warned against dismissing the vague statement.
Hopes were high for this year’s plenum, especially after President Xi Jinping excited investors by talking up a “Master Plan” for reform, and as, historically, third plenums have marked major turning points in economic policy.

Following a third plenum meeting in 1978, for example, President Deng Xiaoping unveiled landmark reforms that triggered three decades of rapid economic expansion, but the importance of his plans were not widely appreciated at the time.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.