China Needs to Learn How to Spin Better

Nov. 21 (Bloomberg) -- Much can happen in 48 hours, asHollywood constantly reminds us. China’s leaders learned thatthe hard way last week, at the conclusion of the ponderouslynamed Third Plenum of the 18th Communist Party Congress.

Put off by an almost comically vague initial communique,the Beijing confab was quickly derided as a giant“nothingburger.” Just two days later, however, after Chineseofficials released a more detailed list of reforms, opinionsswung wildly. Suddenly the plenum was hailed for producing someof the most significant proposals in decades -- everything fromrelaxing the one-child policy and abolishing labor camps, togiving farmers more control over their land, migrants morerights and services, and the market more of a role indisciplining state enterprises.