News Analysis
China is running counter to the goal of “common prosperity” proposed by its communist rulers, as it becomes further polarized between rich and poor, with a rise both in the number of billionaires and in the unemployed or non-earning populations.
“Common prosperity” has been among China’s top buzzwords since 2021. The slogan was revived by Chinese Communist Party (CCP) policymakers that year and emphasized at the party’s 20th national congress in October of 2022 and its Two Sessions meeting this March.
In an interview with The Epoch Times on March 24, economist Li Songyun said that the gap between rich and poor in China has widened further, taking the country even further from “common prosperity.” The term is merely a political slogan, he said….