On Tuesday, November 12, the Chinese leaders finished the third plenary session of the 18th Central Committee with a promise to grant private companies an more important role in the state’s economy. However, although the leaders were under pressure of providing the country with a more effective economic model, no dramatic reform was mentioned in the plenary session.

I am rather disappointed with the government’s announcement. Because the Chinese economy had been growing rapidly in the past thirty years and had slowed down in the recent years, a reform was desperately needed in order for China to maintain a constant economical growth. However, the leaders did not give a definite resolution to the concurrent problem; only a vague suggestion was provided. In my opinion, to maintain a high economic growth rate, a new, effective economical reform should be implemented as soon as possible because the state-centered model is no longer suitable for China’s current economical situation.

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