FT News Briefing Is Xi Jinping moving China into a new era of Maoism?
Sep 8, 2021
This discussion unveils a tapestry of global events, from Pfizer's defense of its vaccine's efficacy to the Taliban's establishment of a new government in Afghanistan. It highlights the complexities of the U.S. labor market's recovery under scrutiny. The spotlight shifts to Xi Jinping's potential shift towards Maoist ideologies, examining his strategies for achieving social equality amid rising political tensions. This includes a deep dive into the contradictions of his 'common prosperity' initiative and its impacts on private enterprises and civil liberties.
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Xi Jinping's Economic and Political Goals
- Xi Jinping's policies aim to maintain China's economic growth and dominance.
- He seeks to avoid the influence of special interest groups and social inequality, prioritizing the Communist Party's control.
Common Prosperity and Wealth Inequality
- Xi Jinping emphasizes "common prosperity," but hasn't effectively addressed wealth inequality.
- Structural issues remain, requiring more than tax reform and targeting high-profile taxpayers.
Crackdowns and Private Sector Concerns
- Recent crackdowns on media stars aren't unusual, but no high-profile business arrests have occurred yet.
- Such arrests would signal a significant shift; Liu He's reassurances about private sector support suggest underlying concerns.