Any thoughts on Xinping's "Common Prosperity" initiative? - What do you think of the policy? - What is it at heart? - How does this affect the markets? I've also read that he's trying to pop the housing bubble - How does this affect the free world, and free markets? - Seems that China-based corporations (Ali Baba) are donating billions to the effort. A BB snippet follows, but there's a million articles out there. --Keith Source: Bloomberg news https://www.bloomberg.com/amp/news/...prosperity-drive-will-redistribute-the-wealth ‘Common Prosperity’ Drive Will Redistribute the Wealth China’s Communist Party has decided it’s time to redistribute the wealth and build a fairer society. As the number of billionaires — and their bank accounts — ballooned in recent decades so did the inequality gap. Now, Xi Jinping wants things to change, and the socialist buzzword is “common prosperity.” Among the aims of common prosperity are raising the income of urban and rural residents, reducing the wealth gap and promoting equal access to services, officials have said. Entire sectors have been ordered to change the way they do business. The once hugely lucrative after-school education industry was decimated overnight by a regulatory decision to ban for-profit tutoring and big tech was hammered by a wide-ranging anti-monopoly crackdown. Then came celebrities who evade taxes, food delivery giants who hire workers without full contracts and video-gaming giants who let youngsters play on their platforms. It seems nowhere is safe from scrutiny. The question is, where will the ax fall next?
Since they've been engaged in a "total war " with the rest of the world for the past few years I'm guessing they want to look more "woke" like the current western leadership and they may have demographic issues . China demographic crisis looms as population growth slips to slowest ever | Reuters