China Makes a Retreat From ‘Common Prosperity’

China’s perceived withdrawal from one of its flagship policies points to the challenges Beijing faces to bring about a more equal distribution of incomes nearly a decade into Xi Jinping’s term, The Wall Street Journal reported.

For most of 2021, the Chinese president had put his weight behind the scheme called “common prosperity” that sought to redistribute wealth, in the wake of concerns that the top echelons of Chinese society had cornered much of the gains from China’s boom, the report said.

Read the full report: The Wall Street Journal

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Tags: Common Prosperity

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.