Economía marxista para el Siglo XXI

Michael Roberts Blog

The Chinese Communist party’s Third Plenum ( finished last week and the detailed statement on what it agreed to do about China over the next five to ten years was released (

There is been much talk about ‘reform’ in the bourgeois media leading up to the Third Plenum.  And the initial reaction of the strategists of capital to the Plenum decisions was favourable.  It looked like the Chinese leaders were aiming to extend the role of capitalist markets and production in the Chinese economy.  The Chinese stock market rose.

But, in my view, the third plenum did not really commit to anything like  ‘free market’ capitalism.  At best, it agreed to a few limited steps towards the development of market forces in banking (more competition for the state-owned banks) and in agriculture (some commercial property transactions), vague talk about ‘liberalisation’ of capital controls and currency…

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