In the world of politics, unconventional ideas often have the potential to become widely accepted, while mainstream ideas can sometimes be marginalized. This idea is commonly known as the “window of political possibility,” as first coined by American political analyst Joe Overton. However, this phenomenon is not exclusive to Western democracies and also applies to countries like communist China.
In 1978, China experienced a significant shift in its political landscape after the death of Chairman Mao Zedong. The Communist Party began to recognize the fallibility of their leader, which led to more pragmatic decision-making and accelerated economic reforms. This pivotal moment was solidified during the third plenum of the party’s central committee in December 1978.
Fast forward to present day, China is preparing for another third plenum, scheduled from July 15th to 18th. This meeting holds significance as it has been over ten years since a similar gathering focused on economic reform. The upcoming plenum has the potential to address longstanding economic challenges faced by China such as low consumer demand, limited tax revenue, inadequate social welfare programs, barriers to internal migration, and bureaucratic obstacles hindering private enterprise.
As China prepares for this important gathering, it is crucial to consider the country’s current Overton window – the spectrum of acceptable economic perspectives within official circles. The decisions and policies discussed during the third plenum will provide insights into the direction in which China’s economic trajectory may be heading.