A pivotal moment for China’s Communist Party

WILL THE Communist Party save China’s storm-blown economy? That is the question on the minds of investors, analysts and businessfolk—as well as ordinary Chinese. It is being asked with increasing urgency, as the sectors that powered the country’s long economic boom look ever more vulnerable. Doubts are growing whether China’s rulers are willing to design and execute an effective response. When the party’s 376-member Central Committee convenes on July 15th, it will be a chance for China’s leaders to ease such concerns. It seems as likely, though, that the meeting will only highlight the gap between the party’s lofty rhetoric and its disappointing actions.