Wed. Dec 1st, 2021

Brooke Masters cites evidence that China’s Xi Jinping’s “common prosperity for all” policy is likely to benefit the upper middle class at the expense of the super-rich, and therefore attracts the attention of Western luxury brands, in the great mythological allure of the China market (Opinion, 18 November).

Yet Xi’s redistributive policies have often been portrayed as an aspect of the leader’s return to Maoist orthodoxy.

If so, an active policy of redistribution of wealth is more likely to benefit the working classes, at the expense of both the super-rich and the upper middle class.

It seems to me that the policy has not yet been fully implemented, so that the rush to the China market by especially luxury brands and the financial services industry may be premature.

They may find themselves at the end of the day with the shortest point of the stick, as Xi’s apparent pursuit of greater equality turns into communist radicalism, with the economy faltering on the verge of a return to a full-fledged command structure. the current is modeled. capitalist tinsel.

Albion M Urdank
Emeritus Professor, British and European
History, University of California
Los Angeles, California, USA

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