Jack Ma and the Chinese tech titans’ mission to give away billions

Xi Jinping’s focus on ‘common prosperity’ has galvanised the country’s wealthiest entrepreneurs

Are the Chinese onto something, allowing  people to become rich through their innovation and hard work, but not to the point that it creates a winner take all society? Despite the system that created so much wealth, so quickly, the young Chinese got fed up the wealth inequality and asked for more socialism, and the CPC listened. It will be interesting to see how this pans out as it flies in the face of Western  neoclassical economic theory. 

 The Chinese Communist Party's focus on wealth redistribution intensified this month after Xi called for stronger regulation of “excessively high incomes” and moves to “encourage high-income groups and enterprises to return more to society”.

The Chinese leader, whose comments were carried by state media after a high-level economic planning meeting last week, also reiterated that China’s realisation of “common prosperity” was the essential requirement of socialism

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Jack Ma and the Chinese tech titans’ mission to give away billions