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Will ‘common prosperity’ address China’s inequality?

Summary:
Check the previous editions of ZhōngHuá Mundus Sign up for the newsletter The concept of “common prosperity” has deep roots in the Chinese Communist Party. It was already used in the 1950s and the late 1970s under different leaderships. On August 17 2021, President Xi Jinping highlighted this concept again, calling for China to achieve “common prosperity”, seeking to narrow a yawning wealth gap that threatens the country’s economic ascent and the legitimacy of Communist Party rule. Since then, there have been simultaneous crackdowns on business sectors and individuals, many of which fall under the umbrella of ‘common prosperity’. Why is this term being brought up again? Why now? What policies have followed? What does the regime want to achieve? Giuseppe Porcaro is joined by Bruegel

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Check the previous editions of ZhōngHuá Mundus

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The concept of “common prosperity” has deep roots in the Chinese Communist Party. It was already used in the 1950s and the late 1970s under different leaderships. On August 17 2021, President Xi Jinping highlighted this concept again, calling for China to achieve “common prosperity”, seeking to narrow a yawning wealth gap that threatens the country’s economic ascent and the legitimacy of Communist Party rule. Since then, there have been simultaneous crackdowns on business sectors and individuals, many of which fall under the umbrella of ‘common prosperity’.

Why is this term being brought up again? Why now? What policies have followed? What does the regime want to achieve? Giuseppe Porcaro is joined by Bruegel Senior fellow Alicia García-Herrero and Minxin Pei, Professor of Government at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States to discuss.

Sound Money Economics System was a fringe political party in Manitoba, Canada, during the provincial election of 1941.

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