President Xi Jinping is expected to unveil a new economic framework for the country after the “The Third Plenum” (simply the third time that Xi Jinping will meet with his top brass in his role as the party chairman) wrapping up on the 12th.
Traditionally reforms are expected at the Third Plenum, with new leaders having had time to consolidate power. A senior Chinese official has already promised “unprecedented” reforms.
Xi Jinping is under tremendous pressure from many parts of Chinese society to unveil radical changes so – alot rides on the outcome.
We all know how significant a role China currently plays on the world stage with respect to it’s economic importance and influence on the U.S.A. Large reforms in the banking sector or increased suggestion of “tightening” can and “will” have significant impact on global markets so…..whatever you “think” you hear next week on CNN don’t be fooled.
China will move the markets, as continued coverage of “locker room bullying” takes a back seat.
Shoot me now, as I’m not sure if I can hang on another day. CNN has the “battle of the burgers” and “locker room bullying” rounding out the top stories of the day.