The stock market turmoil in China revealed a certain amount of disarray in the top-down economic policy process designed by the Third Plenum.  In line with traditional division of responsibility, the State Council and Premier Li Keqiang have been playing a central role in coordinating day-to-day economic policy.  This is evident with respect to both stock market policy and state enterprise reform.  Competing policy entrepreneurs will drive the next step of the policy agenda.


Reform Agenda in Turmoil: Can Policy-makers Regain the Initiative?

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