Look no further. It’s all there in black and white Chinese characters. The Third Plenum, the most important political meeting ever, anywhere, has sent a clear message to the world that China will successfully push ahead on a certain number of decisive measures that are sure to succeed on implementing several high-level – not to mention important – recommendations.
In a communiqué issued from China’s top people, via a monstrous and secretive state news agency, directly to the masses, the government indicated that it would implement <<The Decision on Several Implementations Concerning Various Decisions on Implementing a Notice from Jeff>>.
Pay no attention to the market’s reaction to the communiqué. It couldn’t get any clearer than this. The various apparatuses, consortiums, organs and entities of the highest echelons of the biggest organization in the world (the Chinese Communist Party) have put their minds together to save the country from economic stagnation (as opposed to collectively bending spoons). These decisions on recommendations pertaining to what are very important notices are sure to launch the country into another 30 years of asleep-behind-the-wheel-but-foot-still-on-the-gas-pedal-style growth.
As far as who “Jeff” is, CER isn’t sure. But he’s no doubt someone very powerful and clever.
Too be fair, there’s all sorts of speculation on what the communiqué means. Some have pointed to changes in land and pricing policy, others to the possibility of one-child policy reform. There’s even talk of boosting China’s security apparatus and letting private investment into state-owned firms.
Unconfirmed whisperings suggest that the hottest topic at the Third Plenum was Singles Day, an online shopping festivity that fell on Monday. During breaks that day, many officials apparently went on buying and selling sprees from their laptops. One sold off a huge amount of copper, dropping futures for the metal to a three-month low. Another official pick up a small US$2.6 billion oil interest in Peru. Officials were probably binging on KFC delivery, giving recent sales an unexpected boost.
At CER, we refuse to speculate on what all these bits and pieces mean. Forget the specifics and keep in mind the comprehensiveness and Gestalt-like nature of the plan. When it comes to communist policy, the parts never come close to equaling the whole.
Bottom line is, the masses want decisive and successful implementation of various decisions – and they want it now.
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