This week on the China Business Brief, the China-Britain Business Council’s in-house policy team talk through some of the meanings that have been assigned to the Chinese government’s goal to achieve Common Prosperity.
As Torsten Weller (CBBC’s UK-based policy analyst) explains, the term finds its origins in 1950s Maoist China but has come a long way since then and undergone a metamorphosis of late. From the recent crackdowns on the country’s big tech companies to tax-evading celebrities, the term appears to have found widespread application since being revealed to have been the topic of a meeting chaired by President Xi and attended by China’s top economic policy planners in August.
But what exactly is Common Prosperity? Does it represent a return to socialist orthodoxy in China? And will it be able to bridge the wealth gap and reverse inequality in a meaningful way?
The views expressed in the China Business Brief podcast are those of invited contributors and not necessarily those of the China-Britain Business Council (CBBC). We do not accept any liability if the podcast is used for an alternative purpose from which it is intended, nor to any third party in respect of this podcast.
