Finance & economics | Sour spot

China’s leaders face miserable economic-growth figures

Reality intruded at the “third plenum”, intended to discuss long-term reforms

Man walking at The Bund in Shanghai, China
Photograph: Getty Images

The Jingxi Hotel in Beijing is known for its home-made yogurt—and for hosting some of the most important meetings in the history of the Chinese Communist Party. These gatherings include the “third plenum” of 1978, which confirmed Deng Xiaoping’s rise to power and the opening of China’s economy. From July 15th-18th, the country’s leaders met for another “third plenum” in this closely guarded venue. With luck, they savoured their yogurt. Because outside the hotel walls, the economy was again turning sour.

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This article appeared in the Finance & economics section of the print edition under the headline “Sour spot”

From the July 20th 2024 edition

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