Why ‘Common Prosperity’ Has China’s Billionaires Running for Cover - a podcast by time.com

In a sign of how far China’s leaders have drifted from their revolutionary roots, the biggest shock gripping the country today is that the ruling Chinese Communist Party (CCP) might actually be socialist after all.




The shakeup centers on the phrase "common prosperity." It was first introduced by revolutionary leader Mao Zedong but has now been taken up as the defining mantra of a new era as imagined by current strongman President Xi Jinping.




In an Aug.

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