Beijing’s ‘common prosperity’ push shows how its China model is taking shape
- Together with other recent changes, the future of a socialist market economy with Chinese characteristics is emerging
- Tight state control of successful private firms, recycling more wealth back into society and limits on content creation all appear to be here to stay
Dr Andy Xie is a Shanghai-based independent economist specialising in China and Asia, and writes, speaks and consults on global economics and financial markets. He joined Morgan Stanley in 1997 and was managing director and head of the firm’s Asia-Pacific economics team until 2006. Prior to that he spent two years with Macquarie Bank in Singapore, where he was an associate director in corporate finance. He also spent five years as an economist with the World Bank. He was voted one of the 50 most influential persons in finance by Bloomberg magazine in 2013.