Why markets are holding their breath on China

Will China's 2013 Third Plenum change the world as it did in 1978? Xi Jinping's proposed reforms could radically redefine China's international policy but won't come easily.

The long-term outlook for Australia and Australian markets may be decided not in New York but in Beijing at a meeting known as the 18th Party Congress’ Third Plenum. It starts next Saturday, November 9.

China’s party chief and state president, Xi Jinping, who has convened the Third Plenum, wants the 2013 Third Plenum to be a landmark event, which undertakes enormous reform in China.

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