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Xi’s ‘Common Prosperity’ in Theory and Practice
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wsj.comInvestors had, over the past 30 years, grown so accustomed to ignoring rhetoric about communism from nominally-communist China that a leader firmly putting equality at the heart of his economic agenda has caused more than a little heartburn. The Oct. 15 release of a fuller transcript of President Xi Jinping’s mid-August remarks on “common prosperity” therefore piqued considerable interest.
The publication in the party’s theoretical journal, “Seeking Truth,” appears partly aimed at reassuring investors and entrepreneurs spooked by novel language about “rationally adjusting” excessive incomes in the original mid-August readout of Mr. Xi’s speech, which came at the height of Beijing’s campaign to rein in its internet giants.
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