China's prosperity goals and the world

Xi Jinping's new vision for the economy means less prosperity for people globally

Chinese leader Xi Jinping had spelt out his vision of “common prosperity” for the people of China at the meeting of the Central Financial and Economic Affairs Commission (CFEAC) on August 17 this year. However, the full text of his fairly long speech has only now become available in the party journal Qiushi in its October issue. It enables us to have a better sense of the significant reorientation of economic growth strategy Xi is committed to. This column may be read together with my previous column entitled “Xi Jinping”s Sharp Turn to the Left”, Business Standard, September