At the heart of Chinese political economy thinking is industrial (and trade) policy on steroids
Will China’s “Common Prosperity” Survive Putin’s War?
Chinese President Xi Jinping’s “common prosperity” campaign takes aim at the market-oriented policies that have enabled China’s rise. At a time when COVID-19 border controls and perceived complicity in Russia’s aggression are already threatening to isolate China, the risks of pursuing such a campaign should not be underestimated.