Will common prosperity close the gap between rich and poor?

China is a far richer nation than it was 40 years ago, when it began to integrate with the global economy. However, income disparity has also widened, which is a concern to the Chinese Communist Party, especially as it seems to be an affront to its socialist principles. Xi Jinping has begun a campaign to narrow the gap between rich and poor and create what he calls “material and spiritual wealth”. The campaign has a slogan: “common prosperity”. In this podcast, Scott Rozelle from Stanford Uni...