https://www.scmp.com/rss/290692/feed Nathan Gardels is editor-in-chief of Noema Magazine and co-founder of the Berggruen institute. He is co-author of “Renovating Democracy: Governing in the Age of Globalization and Digitlal Capitalism”. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com As China embarks on what President Xi Jinping calls the “third distribution” along the path to reaching “common prosperity” and “socialist modernisation by 2035”, it might want to consider the idea of pre-distribution of wealth through universal basic capital. This would modernise the socialist market economy by spreading wealth more fairly. Pre-distribution addresses the fundamental dynamic of inequality in all market-driven economies, where an ever-increasing share of national income goes to... https://www.scmp.com/comment/opinion/article/3147839/how-universal-basic-capital-can-help-china-achieve-its-common?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3147839/how-universal-basic-capital-can-help-china-achieve-its-common?utm_source=rss_feed Thu, 09 Sep 2021 01:15:14 +0000 The governing systems of the world's two largest economies are in crisis. As the United States has been grappling with a fiscal cliff, China faces a social cliff. Without major reform, both will falter. The deal in Washington may have saved the US from a fall over the edge into recession for now. But its wildly partisan politics is unable to find anything resembling a consensus on how to reduce defence spending or reform the costly entitlements of America's maturing welfare state. By 2025,... https://www.scmp.com/comment/insight-opinion/article/1142569/when-chinas-collective-vision-meets-americas-individual?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1142569/when-chinas-collective-vision-meets-americas-individual?utm_source=rss_feed Sun, 03 Feb 2013 16:00:00 +0000 The rise of Asia is the single most important historical event of our era. Yet, for all the continent's now well-established might, few voices in the region have stepped forward to address what role Asia, above all China, must play in shaping Globalisation 2.0 - the interdependence of identities that characterises our world. In his new book, The Great Convergence: Asia, the West and the Logic of One World, Kishore Mahbubani, dean of the Lee Kuan Yew School of Public Policy in Singapore, at last... https://www.scmp.com/comment/insight-opinion/article/1121373/can-asia-step-remake-global-order?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1121373/can-asia-step-remake-global-order?utm_source=rss_feed Sun, 06 Jan 2013 16:00:00 +0000