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…
‘Common Prosperity’ Fades as China’s Billionaires and Unemployed Poor Proliferate Simultaneously
$50 Billion: Wealthy Chinese Want to Leave China; More Banks Freeze Withdrawals in China
July 20, 2022
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BillionsCCPCCP VirusChinaChina InsiderChinese banksChinese economychinese loanschinese millionairesChinese Regimecommon prosperitydepositsEpochTVFalun DafaFalun GongFinance & Business Tieshenan banksINSIDE CHINAJuly 20persecutionSocial ControlSpecial TopicsThreat from Communist ChinaUS-China relations
Wealthy Chinese are leaving China—or at least planning on leaving—as they cannot stand the draconian COVID measures. But will Chinese leader Xi Jinping allow it to happen if that means billions of dollars in cash go out of China amid the contractions and poor economy? Meanwhile, more banks in China suspend bank withdrawals using various…
China Downgrades ‘Common Prosperity’
March 18, 2022
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News Analysis A few months ago, Chinese leader Xi Jinping touted “common prosperity.” But in recent weeks, Beijing has barely mentioned it and instead began referring to a modified version of the policy, called “third distribution.” “Common prosperity” is broadly believed to be a method of “killing the rich to help the poor,” which means…
Beijing Bows to the Davos Mandate
Commentary What’s the difference between the Chinese Communist Party’s (CCP) new “common prosperity” policy and the World Economic Forum’s (WEF) Great Reset? Nothing … except for the marketing. The WEF in Davos, Switzerland certainly knows its way around public relations and a slick website. Xi and Schwab: Birds of a Feather? At the 2022 annual…
China’s JD.com CEO To Donate More Than $2 Billion in Shares To Charity
February 4, 2022
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Business & EconomycharityChinaChina Business & EconomyChinese Regimecommon prosperityCompaniesMedia & Big Tech
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The founder of one of China’s richest e-commerce businesses will donate $2.3 billion in shares of his flagship JD.com company to charity. JD.com “has been notified by Mr. Richard Qiangdong Liu, the chairman of the board of directors and chief executive officer of the company, that he will donate 62,376,643 Class B ordinary shares of…
China’s Urban-Rural Income Gap Keeps Widening, Challenging Xi’s ‘Common Prosperity’
Recently, authorities and experts in China have acknowledged that income inequality between urban and rural areas is increasing and that it presents a tremendous challenge for achieving “common prosperity.” “Common Prosperity” is a propaganda slogan coined by Communist Party leader Xi Jinping. It promises economic stability to all Chinese citizens and is at the same…
Would Average Americans Benefit From a Dose of China’s ‘Common Prosperity’?
Commentary Ray Dalio, a hedge fund manager who has served as co-chief investment officer of Bridgewater Associates for the best part of four decades, recently heaped praise on China’s drive toward “common prosperity.” If the United States is to narrow the country’s yawning wealth gap, Dalio, worth somewhere in the region of $20 billion, believes…
Jack Ma Is a Typical Example of a Red Capitalists’ Fate
News Analysis “Common prosperity” has been storming in Beijing since August. Many Chinese enterprise owners responded to the program enthusiastically with charity donations and pledged their allegiance to the Party through collective activities. When the Chinese Communist Party (CCP) leader Xi Jinping demanded “common prosperity,” he was eyeing the excessive wealth of the Chinese billionaires…
The Changing Fortunes of China’s Internet Moguls
China’s Internet commerce and technology giants are increasingly impacted by a variety of regulations imposed on them by the Chinese regime. The disappearance of the acclaimed “Wuzhen Banquet,” the star event of the annual World Internet Conference (WIC) in Wuzhen, China, this year directly reflects the changing fortunes of China’s Internet moguls. William Ding, the…
China’s Political Storms, From Alibaba to Evergrande
Analysis Xi Jinping may be fighting hard to pave his way to the upcoming 20th Party congress meeting in 2022. He may be directing his actions at the Jiang Zemin faction that Xi has implied are careerists in the Party. From the recent push for common prosperity, to the purging of the entertainment industry and the…
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