The Chinese Path to Common Prosperity

In China the idea of common prosperity dates back to 1953. After 1979 chose let some people and places get rich first accelerate economic development, with Deng Xiaoping arguing that public property could prevent social polarization. The result was extraordinary sustained growth but at expense large increases in urban-rural, regional inequalities income wealth themselves associated private capital. 1999 started address urban-rural disparities name prosperity, while under leadership Xi Jinping emphasis on has increased markedly alongside domestic goals relating innovation, improved governance ecological spiritual civilization. Starting 2020, this course seen strong government action against disorderly expansion capital, monopolies, speculation costs privately provided education, housing potentially health, as well establishment a demonstration zone Zhejiang province explore ways uneven development reshape primary, secondary tertiary distributions income.