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Xi Jinping’s drive for economic equality comes at a delicate moment for China

President wants to spread ‘common prosperity’ but Covid and material shortages could spell trouble

For decades the aim in China has been the pursuit of growth, building the world’s second-largest economy from a relative backwater on the international stage. Now, the promise from Beijing is to enlarge the economic pie and divide it well.

President Xi Jinping announced plans this month to spread “common prosperity” in what is one of the world’s most unequal major economies, signalling a shift from his predecessors’ pursuit of growth and heralding a tough crackdown on wealthy elites – including China’s burgeoning group of technology billionaires.

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Read the original article at The Guardian

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