China's Wealth Crackdown: Can President Xi Achieve A Fairer China? | Insight | Full Episode
On August 21, 2021, Chinese President Xi Jinping launched the Common Prosperity campaign to remake the world’s second largest economy. Its main objective is to narrow the growing wealth gap between the rich and poor. Among others, wealthy individuals, big tech companies, the education sector and real estate developers were unsparingly targeted. Many have been taxed and are encouraged to do more to return to the society.
But the move to rein in private capital has left many investors nervous about the future growth of their business. There have been anxiety and apprehension that Xi Jinping’s new campaign will revive Mao Zedong’s ideology of egalitarianism and that Common Prosperity may again lead to Common Poverty.
How will the Common Prosperity initiative change China’s future? And with the current economic slowdown and the supply disruptions caused by the war in Ukraine, will the campaign help bridge the gap between the rich and poor? Or will it cause further damage to its economy?
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Deng xiaoping said “let some ppl get rich first, so they can help the rest of ppl get rich together.” most of ppl only sees the first part of the sentence
Send Robin Hood to China
@@chitchat3838 haha
People who saw the second part are in reeducation camps.
The rich never share their wealth , so there's never been a second part.
What’s the second part then…….
Chi Shin Yu can do her version of Tang Ping only because her parents belong to the upper class of society, unlike the common middle class
Kudos Singapore 🇸🇬 for your reporting on China 🇨🇳 👏👏👏
As Lee Kwan Yu said, if you want to know how a country is doing you should look at the bottom 20% of its citizens not at the top 10%. On this scale China has to take this necessary and painful step. Imagine if you have market of GDP per capita of 20,000 in China how big the market would be. They don’t have to depend on exports market anymore.
Lol and what's that say about America?
You're talking about a $28 trillion annual GDP. What are you smoking and where can I get some?
👍💯🙏🙏🙏
Zero mandate COVID-19 lockdown policy only helps the rich getting richer 🤣😂 while the poor became even more poorer. The One China policy if not change then it will be the final coffin for China economic growths how all US have to do is to impose sanctions on China and seized all the Chinese assets worldwide it would collapsed China economy within a months.
@@DavidGarcia-oi5nt In America prosperity belongs to the 1%.
If I am understanding the situation accurately, Qi Xinyu exemplifies the honest, ethical young person who desires to contribute to the betterment of humanity. It is critically important for all peoples of the world to recognize and work toward a harmonious, healthy environment.
It's beautiful how governments can maintain this perpetual motion: first, dupe people into buying into some "plan" (any plan), and then continuously maintain legitimacy by providing "solutions" for all the problems that flow from any particular "plan".
I respect what China is trying to accomplish.
What is that Darrell?
Reqlly. What there leader is getting rid of those who challenge his and not corruption. The whole government is corrupt.
companies makes money from the society, using public infrastructure and supply chains managed by the government and society, should also be expected to contribute back to the society.
yeah, but why did the CCP wait until the problems got drastic before doing anything?
@@aoeu256 drastic? China's wealth divide is not drastic. and the gini coefficient score has been going down since 2008
They are supposed to. It's called that tax.
@@aoeu256 you mean let it get as bad as America. 1 percent own 99 percent. Don't care about the poor or homeless. Don't have healthcare and poor infrastructure whilst Warren Buffet pays less tax than his worker.
obsidianstatsue They did contribute by paying taxes and govt used their taxes to build infrastructure. Since they pay taxes, they had a right to use the infrastructure. The salaries of civil servants and also the politicians come from these taxes. These companies also contributed by giving employment to many people and giving promotions and salaries. This is the way to give back to society. You encourage hard work and not laziness.
The wisest thing that should be on everyone's mind currently should be. To invest in different streams of income that doesn't depend on government, especially with the current especially with the current economic crises around the world.
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Mini-BBC should do one show about Singapore's extreme rich poor divide also.
U can set an example first, donate all ur money to the poor
For sure, news from BBC is 1000 times more reliable than anything coming out from China 🇨🇳.
Cna mini bbc ? Hehehe i also sometimes think bout that
@@mantapdjiwa9768 Yeah, it's a mini-BBC.
Mini BBC is so apt. CNA is made up of bananas from ang moh school who are brain washed into idolizing western values. These gungdungs are so eager to restore the past glory of our colonial masters.
Lots of china supporters in Singapore. We will do very well with common prosperity here since everyone supports china's growth in the region. Must align our destiny with china. Will someone talk to LKW?
the fact that anyone can justify poverty anywhere on earth in 2022 blows my mind.. its never the people in poverty saying that its ok tho. we have the capacity to make every human on earth live with the quality of life of an upper middle class american plus have universal healthcare. but because people are clinging to old ways we still have to watch humans die of starvation and other easily preventable situations... its so dumb to me
That’s the ideal, but how do you convince those with money to give up their wealth to help others that have nothing to do with them? Also what would drive the economy if everyone lives a comfortable life without working hard to get it. It’s not realistic and imo impractical. It’s a bit of a chicken and egg problem as well, I mean how do you give everyone a comfortable life if you don’t have a strong economy. And you are certainly not going to get a good economy if you have everyone sitting around doing nothing living comfortably. Communism sounded like a great idea, but it didn’t work, and for good reasons.
I think build a strong economy is still the way to alleviating poverty around the world. Capitalism seems to be the best tool so far. The next problem is how do you redistribute that wealth so everyone gets a fair share, and no one has really cracked that problem at a large scale.
an upper middle class American would make between $150,200,000 a year most of the world is living there Shack I'm a multimillionaire landlord what am I doing to keep people poor what am I stealing their money
@@jamesz80 capitalism is fine as it serves the needs for severely underdeveloped countries to reorganize and build up material wealth. But eventually they should still transition to socialism or else its just gonna ended up becoming social democrats which while reduces the poverty domestically are still exporting poverties.
how do you convince the people who doesn't want to work, to go to work? How do you convince people to do what you want them to do? How do you even know that your ideals or ways are even correct? And if it's correct, correct for whom? You can't solve everyone. A simple experiment would be trying to convince everyone in your immediate family to live the ways you lived, and do the things you do you, and only believe the things you believed. People are not machines, they are not programmed to "your" logic.
Always like the balanced view from CNA.
Excellent Documentary ❤.After DW,your documentaries are the one I look forward to.Keep it up 👍.
Thank you CNA team for your diligent research and quality editing...
Debt, Coups & Colonialism in Haiti: France & kzhead.info/sun/i5aqaZynm4ywZY0/bejne.html
International news could have been maked up without supervision.
This piece was well done 🔥🔥🔥👊🏽
It is clear..it is the one that is the most disciplined and unafraid of making change to meet the standards of today's society. Those are the most companies that will gain and earn trust of the people.
Everything described in this episode is not unique to China. It is all over the world. Cost of housing is so expensive. Graduates are working in jobs there don't want to be in. This generation and one thing they all have in common is entitlements. We have that here in Canada as well.
Nonsense!
You don't see them reporting that a number of banks in China when bankrupt. Those rich and corrupted have sent their money oversea. Leaving poor and middle tier having difficulty withdrawing money part of or the main reason behind Shanghai lockdown. Shanghai is the most opinion and bigger spending habit have they been confine. There would have been a huge commotion and chao by it's citizens that why even online delivery weren't allow during their lockdown. Until have have them starve for nearly two months, that way they wouldn't and have the energy to complaint. You don't see Singapore news reporting about all these or that millions of money laundering money were used to buy properties in Singapore. Instead it was just reported that wealthy people buying properties and billionaires want to do business in Singapore. When the world knows that 5 top billionaires in China including Jack Ma when missing, so whoever this billionaires want to do business is sent by their government to infiltrate Singapore. Like they did with Covid and Singapore as the test ground. Singapore not being honest about what happening when they are being made used into believe China is doing very well when in fact they just want to empty and scam more people aboard to fund mainland like what they did with Hong Kong
@Watcher During covid lockdown, US and Canada are giving money to people who lost their jobs, whereas China leaves you on your own.
@Watcher Inflation, not hyperinflation. Do you know the difference? If you lost your job and no money in the bank, then was given US$2000 a month with inflation going up 8%, versus in China you lost your job and bank got frozen so you have ZERO dollar to buy food. Which one do you choose 🤣?
What China experiences can also be felt all over the world but in a much higher level. When the term "tang ping" first come up, I can also very much relate to it.
@@RoadstersRegistry It's Singaporean Media.
Go help CCP....
What's wrong with china's common prosperity? Here in Canada common prosperity is prastice everyday through income tax. The more you make the more tax you pay. And Canada has transfer payments to poorer provinces from richer provinces. If China does it, it's a bad thing. What about other countries like Canada? The West is totally bias in their reporting.
Because it's only applied to Xi's political opponents and billionaires CCP doesn't like. CCP family members wealth or their allies are untouched. In addition as can be seen through their curtailing of tech giants and COVID policies, China's economic output is falling. There is nothing wrong with trying to have a more egalitarian society, US in particular badly needs it, but as always when CCP implements this sort of thing, you have to take it with a grain of salt.
It's not that the idea is bad, but the implementation is. The way Canada do it, is not similar to what China did.
It takes another 100 years for China to catch up to Canada in terms of people development, social benefits, and high tech!
@@Obloms Do you have any proof or facts to back your accusation?
@@vertikultursg8532 no he doesn't he's mind is made up due to the amount of western propaganda he consumes. China's government have on numerous occasions said common prosperity is not to limit the rich, BUT the ensure large corporations take their share of social responsibility
Successful people don't become that way overnight. What most people see at a glance wealth, a great career and purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life
Yeah, you know how hard it was to capture and sell slaves, right?
@@xiuchengmu1849 Not as hard as pronouncing your name ☝️🙄🤔🤔🤔 🤭🫢😉👍 By the way China doesn’t sell their slaves (Uighurs) they just sell their organs😳🫣 That’s all🤷🏻♂️🤦🏻😂😂😂☝️🤨 and Taiwan will NEVER be part of China not as long as Winnie the Pooh 🍯 is still your president🤣😅😂😂😅😆😂😂
@@TAZ0300Too bad I cannot just enslave those who cannot pronounce my name and put them into a boarding school to be "properly educated".
Market Cap Value-focused strategies are not enough examples of rapid capital accumulation? Jack Ma or Elon Musk, none of them can profit or accomplish in this aggressive way without such a worldwide economic system! Capital accumulation should repay society and the poor! Why is it not acceptable? The US Democrats also want to do it.
What about tax avoidance? Does it have a role to play?😂😂😂
do not worry, the government of China is very capable to tackle any serious issues, and the peoples are smart and diligent, no hardship is too difficult to be solved
It's not an issue in China because some people decide to end their lives.
Western media should leave China alone. Never teach your grandfather China how to suck an egg😅
As far as I can gather, and I am no doubt oversimplifying this, China is doing a huge amount of trial and error and on a huge scale constantly and to various outcomes from total failures to great success and everything in between and it's apparently obvious that China has quite a bit of work and challenges to do going forward. My point is that China is always doing something no matter how small or radical to address the problems they are facing which in my opinion is more than a lot of people can say about their respective governments. Again, it is clear that there are some major and pressing issues that need to be sorted as soon as possible and it will be interesting to see how China will deal with this going forward. On a personal note, I am glad to see that people understand that everything has a price and that progress does not come cheap and quick. Yeah, it's maddeningly frustrating at times (especially for younger people) but as long as something is being visibly done then things become at least a bit more tolerable. I wish China and it's people's the best of luck as I do for any other nation and I hope we will all come out of all of today's global difficulties towards a better way and at least a bit wiser to boot.
Like our society many problems are solved. While causing other problems to solve. I also wish others well. Soon there will be welfare payments. If they follow Australia that will dig grave.
A big issue with China I’ve seen is they have bought all this advancement on population “credit”. A population demographic of a lot of highly productive 30-60 year old slingshots progress and is ideal for current growth and that’s what they have. They killed alot of old with the mishandling of the Great Leap Forward and early communist policy, and the 1 child policy reduced the burden of taking care of young for 18+ years. They will suffer a major population collapse similar to what happened in Japan in the coming decades.
I would like to counter that my friend. :-) my government the government of Denmark actually listens to the people, and are proactive in dealing with problems. Energy sustainability, global warming preparations, and so on. We began decades ago, that is why we can go on as normal without any issues, because we have already dealt with those issues before they became major problems. Heard about social unrest by the masses in Denmark? That has never happened as long as I have been alive and I am 28. You do not need any trial and error you just need to fix the problems. Identify the issues, find out how to deal with it, and then do it. We do that in an open and transparent way. :-) China is not open nor transparent, they are full of hot air when it comes to stewardship of the globe, they are running around now like chickens without a head after they chose to close down Shanghai, and their current economic disaster is going to roll them up and smoke em. I too wish the best of luck for the Chinese people and all the best. So I cheer for the downfall of the CCP.
@@taiwanisacountry God bless you. Nice to read your comment. Anyway Taiwan is called Republic of China ROC, ROC ruled whole China territory at once time but due to historical reasons ROC is still controlling Taiwan island. Just for your information. 😊
@@yllee472 ROC is in control of Taiwan yeah. The historical reasons are called Chiang Kai-shek, he alone is to blame for whole situation if you ask me.
Victor Gao is the best guy 😅 Thank you for a great documentary!
Implementation of policies are always a key problem. Based on my personal experience and the experience of the people around me. Most of the local governments do anything to serve the policies literally, and the price are paid by the ordinary. It’s really frustrating.
Local official are doing things to serve themselves and they robbed the people of their wealth. The CCP just sitting back and take gifts
Awesome coverage.
Thank you Victor Gao for explaining the concept of common shared prosperity. Jia you Victor Gao.
If common prosperity is successful, it will be a good model for the rest of the world to emulate.
When has it ever succeeded?
Only without the CCP. Taiwan is a good example.
@@lastChang There are more disenfranchised citizens by percentage in Taiwan than in Mainland China. Keep up with your drivel.
u know whats the other name of common prosperity its suffering
Socialism, they can keep that
Respected and appreciated.
Considering human nature this seems like a dream. I hope china can achieve this.
China can achieve only without the CCP.
No. It's impossible. Take the Soviet Union for example
@Watcher but its slowly reverting back to it now..so...dont dismiss what he just said up there..there is very little play when it comes to some ideologies they can only go so far and as long as there is something causing moral decay..no utopia will ever happen on this World that has forsaken God...thats a clear fact..infact next 16-20yrs there will be rebellions and revolutions worldwide like never seen before,and natural disasters that will keep us on our toes..especially the few things that haven't happened in a while being a castastrophic volcanic eruption,massive earthquake spanning 25 countries all across the fault lines of major rifts,a major tsunami that will also wipe out some coasts,some island countries and a catastrophic solar event that will disrupt the grid,communication for years....there is nothing good coming and we won't even have time to worry about ideologies of any kind add religious persecutions that are widespread...if we even make it past 2050 without a nuclear war occurring before all this happening we would be lucky.
Yup. The only way to do this in to eliminate the market and use political power to dictate wages and profits.
@@sansongching8836 yeah datz y its sims lyk a dream. If china can partially achieve this, the next generation will have a blueprint to copy and farther improve
redistribution of wealth is done through taxation. no need to shout about it or you will scare away capital investment and talent
yeah, go teach the chinese how to manage their country. How many people have you lifted out of poverty?
We had seen this before in 1949 at the establishment of 'New China' and the related purging and cleansing of Chinese society that followed. Another round of and purging and cleansing to follow this latest common prosperity drive?
You sound like the ignorant Singaporean still looking for reds under the bed. FYI, we are in the 21 Century and the last time they cried that was when they invaded Vietnam to spread the southward thrust of Communism.
Number of banks in China have gone bankrupt. Those rich and corrupted have sent their money oversea leading the poor and middle class tier unable to withdraw money or limit daily withdraw. You don't see Singapore media cover about this. If Singapore doesn't learn it's lesson and keep promoting the idea of Chinese spending millions on housing when in fact recently their been case of people doing money laundering, sending and spending it . To billionaires from China wants to do and open business in Singapore. First, China 5 top billionaires when missing including Jack Ma. If any want to do business in Singapore, you know they are send by their own country government. Singapore was their first testing ground with Covid. They didn't expect Singapore to survive as it strongly depend on tourism and external trade. Singapore stop daydream and promote the fake and faults images that China is doing very well that's why the rich and billionaires are doing business in Singapore. When we know they just want to infiltrate and ruin Singapore from the inside. Why they keep want to push the remove of death penalty because people who want to do business by doing illegal or increase corruption in Singapore. That's why they have Shang Hai in lockdown and didn't even allow the people to order food online. Shanghai people are the most opinion more independent mind and their spending habit is bigger if they didn't put them under lockdown when those effected by the bank go bankrupt there would have been a huge commotion. Singapore Should really stop hiring foreigners and invest in Singapore have more children and pay / salaries given higher if Singapore to increase and create a better balance. Have Philippineo become manager or of rank they only hire their own people for the job same goes to China they basically take over food court. You have only one or few Singaporean because of the quote ratio to foreigners. Number of times Singaporean are look down on or bully at work because they out number by their foreign worker in one station. They are expected to work long hours without complaint while foreigners works and love engage in backstabbing and drama because they know they will not stay long after they send money back and own a building or a apartment after working a few years in Singapore. Creating a very toxic environment in Singapore workforce.
@@margaretlemon7175 If fail must try again until succeed no matter the sacrifice. That's the chinese mindset. Otherwise will lose face.
Nothing wrong and it is idealistic but hard to achieves . So many people will oppose this. The cats are now fat and wont give up their fish too easily. I hope every country will have fewer corruption and poverty though
Common prosperity is a wonderful concept. Historically speaking, terrible things happen when an enormous amount of purchasing power (or bureaucratic power) gets into the hand of a very few number of 'certain' people - and especially if those 'certain peoples' are mercantile (i.e. questionable loyalty to immediate society or nation at large).
Woderful "concept" yet how's that going lately in China? Rhetorical question.
@@gardencity3558 it’s easy to criticize until you know the difficulties. And good things are alway not easy, unlike bad things that’s easier, take capitalism for example, it’s easier to make yourself rich then others(customers) too.
🀄
@@billc6773 I speak not out of a void of knowledge. Xi is a usurper who brings nothing good for China. Certainly not common prosperity.
@@gardencity3558 my point still stands hahahahahha
Hi CNA, can you produce a video on - USA Wealth Crackdown ?
Don’t Because CNA is a dog of usa 🇺🇸
USA mass shooting, racism, homelessness, immigration, anti Chinese campaign, that will attract many viewers to understand USA more.
are you 5 cents?
Common five senses prevail.
Are we misunderstanding common prosperity and talented and wealthy. Common prosperity is for stability. For people who are more educated and have talented have the right to prosper and go beyond common standards...Agree?
I agree to a degree. Wealth builds wealth. If left unchecked, those with wealth will do whatever they can to increase their own wealth at the cost of everyone else. Case in point would be US. While a lot of people in US like to blame China for lost jobs in rust belt, the policy was a result by corporate greed. They shipped the jobs overseas to improve their bottom line so management can get bonuses. That is why wealth inequality has grown exponentially in the US. Its GDP has grown almost as much as China over past decades. Problem is, all that growth was concentrated in the top 1%.
@@delroypark2132 Spot on!
I see China’s reasoning for doing what they do, just the policies set to properly address those social issues is very tricky
It will backfire big time - we have seen it time and time again in history.
@@cyberslim7955 History doesn't predict the future.
@@snslifestyleorg No, but history repeats itself. This is why we learn history in school, so that we can connect the dots.
@@cyberslim7955 Not all of them. We learn history so we don't make the same mistake.
Personally I always liked the Chinese culture
Who doesnt like China foot binding?
Remember...we all think in a box, but few think outside the box.
This is a very useful and informative account of the policy of the leaders of china ..this policy of Common Prosperity. By this publication more people every where will understand China better ..in fact China has learned a lot from Singapore from adapting a socialist country to a capitalist approach under the banner of Socialism with Chinese characteristics..and to the need to eliminate the cancer of corruption which can destroy any social systems in the world. This Common Prosperity adopted by President Xi is something which other countries must also learn ..especially Singapore. As we know in any country it is the 20% which makes the grade and the 80% strives very hard to go into the 20%. The wealth is always with the 20%. But in singapore it is not only the 80% which has to compete but the20% too has to compete...against the world .The fact is that Singapore draws its talents from the world and that becomes very hard for all Singaporean to reach the top percentage. The rich and the poor, the gap is very great ,so unless this issue can be resolved like in China ...class differences and conflict are very potential. The future prime minister of Singapore too comes from a family in the neighbouring country ..See the competition..!! Well it is good we have such an article to let us refect move , to ponder more over the problems of society.
China can never be Singapore. Singapore had virtually no corruption whereas China had plenty.
Singapore's economy will collapse if they adopt Common Prosperity. It is punishment for success and not many will feel like contributing to the economy.
You picked the worst example. Singapore is doing so well whereas most Chinese earns less than $3000 RMB a month. If common prosperity is the goal, why don't the leaders disclose their assets and net worth to the public? Why would they censor video showing people still living in poverty rather than helping them?
@@johdo9953 Even if the government were to give the poor $1,000 per year, do you think it can help. There will always be the poor and rich in every country.
@@thinkcat01 A little help doesn't mean you can buy luxury goods without working. But China is making middle class poor again.
One must be ready to switch gears
8:06 Did you say 100m or 800m people lifted out of poverty?
@Elie Lee: She said 800 million people out of extreme poverty. Extreme poverty is defined as people earn less than $1.0 per day. In other words, close to starvation. There are hundreds of millions of poor people in China. The government has a lot of work to do. At least, they are trying. They don't want to them welfare because that won't help them in the long term.
I don't know the fair issue, but I do know President Xi achieve a gun-violence free China😂
Yes, our thoughts and prayers are with the deceased at Buffalo and Uvlead.
No guns but tanks against the public 😅
@@johdo9953 Yes, like your stupidity. I think it is cheaper to use bullets than the tank shells don't you think? But as you are born from a union of a feral dog and a bitch in heat, I can understand they left out your brain.
Common prosperity is a policy aimed at preventing the nation slide into plutocracy.
So 70 years of communist rule failed to prevent that?
@@swagatopablo It's beginning to, hence the policy to stop it And 70 years of communism has lifted 800 millions out of poverty into middle class, infrastructure and technological advances. Communism haters will always see it in the light of glass half empty perspective.
@@jaytso1883 So the policy existed for 70 years already then?
No, it is a policy to keep the CCP in power! For 30 years, they were so proud to have lifted a billion people out of poverty, now to revert back to the mao days.
@@cyberslim7955 there no cure for ignorance
China is blazing new trails for all of us, as they gradually develop for-profit market place development without excess wealth. United States has no idea where to begin. Deng Xiaoping commented that hard problems are solved one step at a time. How do you croas a river ? You feel the stones with your feet. China is showing all of us the way. Blessings on them !
I think the rich will flee
Perhaps that's why they are doing this right now. A surge of immigration requests was witnessed during the pandemic, so the government restricted access to foreign territories and currency, a perfect opportunity to heavily tax the relatively rich population (plus most people are now struggling to make ends meet due to the pandemic, a huge moral boost for them as well).
@@changliu2239 搞笑。你被自媒体带节奏了吧。你身边谁因为国内疫情防控移民离开中国了？
@@TWisDOG1 我现在人在加拿大，然后我的亲戚朋友因为疫情的事情打算移民所以找上我帮忙，我的消息是通过他们了解的，难道国内情况不一样嘛？要是和我了解的不一样那真的请告诉我区别在哪里，我对这件事情的了解一直很片面，消息收集总感觉不全
@@changliu2239 解封后上海房租暴涨。
@@TWisDOG1 这太难顶了。。。房租居然还在涨
Ever watch a row of movies of all things that can go bad. I've seen some disastrous movies and situation. Make movies of things that can go bad in every situation. Just a heads up on what are the possibilities before they happen.
Anything that comes up must come down !
You sound like you are referencing your willy. Please ask your wife if it is true.😂😂😂
I can tell you from experience that Chinese people are doing increasingly well and China is always looking forward to balance and get more people wealthy enough to afford a middle class lifestyle. Of course you cannot lift 1.4 billion all together over night. But today less and less companies decide to be present in China due to low labor cost. In fact that’s a reason to get out of China these days. In Europe we see that Serbia is now the cheapest manufacturing site …. Chinas stability depends on social peace …
Ah. So thats why ever uncommon or unwanted opinion is censored.
@@hallarious506 yes there is censorship. Now assuming you are living in the west like I do, don’t you find it disturbing, that we only hear negative news about China or Russia or any other state we do not agree with? Isn’t that censorship too? Do you really buy into our media outlets being independent? How come that majority will is not inline with legislation? I was only talking about economic conditions in my post and believe me I had some American and Mexican engineers, who were shocked not to find the rice fields they had been expecting to witness … man China is a threat to Western dominance by sheer economic power
@@theMuritz Well, no. Because I said good bye to mainstream media a looooong time ago. So I barely think that both of us has the same media diet. So you are assuming wrong that I solely here negative things about China. Actually, I recommend ADV Podcast. Those guys lived in China for years, have friends there (the family had to flee because of how the government's treating them), but criticise the government and give alot of analysis of the culture. A healthy media diet is far better than going one from one extreme (everything is evil) to the other (they are good and treated unfair). China is the only big player who is commiting genocide. There are not many good things they are doing. You friends were expecting rice fields? Those were destroyed to build buildings for the speculation market that is crushing at the moment. But yes, that is how China acts. Showing all the things showing how stronk they are. Did they see the concentration camps? Did they see the the ghost cities? Did they see the lack in fields? Did they actually went to rural China, where all the poor people live, that official do not exist because China officially abolished poverty? I bet not. Sri Lanka is in a chinese debt trap and their best friend Russia, who is the aggressor in a bloody invasion, is bailing them out, looking like the good guy. Coincidence? Maybe. Just maybe.
@@user-be1jx7ty7n Yeah, right... Its like a memorized speech.
@@hallarious506 have you been watching Russian or Chinese news lately?
Overworking and underpaying workers made the billionaires
This news journal about China is very fair. People from China should watch this. It's not like the western media where they have some stereotype against CCP.
Just sick of watching these western media propaganda on China 😅
Of course, some people would be unhappy because their goals for prosperity did not include the prosperity of the whole. But a government that is responsive and consequent to its people needs to focus on the majority, the 800 million in poverty. For centuries Capitalists have been promising prosperity for the people at the bottom, and what do they have to show for the last two or three centuries-- greater inequalities as you can see in the UUSS and the West.
Once you strip out all the ideological language in Common Prosperity a good question is how would people in other countries respond if their government took the same policy approach to the wealth/ income gap.
…common prosperity sounds good …meaning everyone is on the level…but deep down you know it’s all a 🤥!
Simple, the government would get voted out
why didn't the chinese government address the growing inequality problems earlier on? why does the china government wait until problems get big then take drastic desperate actions in a top-down way, why not let the local governments do it. do you really think that making afterschool programs illegal would have fixed the problems of the gao kao culture and the corporate sector paying some people more than others? why doesn't china invest in innovation, maybe, give jewish nobel prize winner genes to babies; China has a major deficit in science-fiction with innovations. think of all the problems that can be fixed with replicators, nuclear fusion, nanobots, neurolink, telepresense robots with hands operated with haptic gloves in rural areas.
Common prosperity is the encouragement of small business prosperity and keep the corporate world at bay ... and of course paying their fair share of taxes for a fairer wealth distribution... that is all.. To me ... capital flights is a concern... that is why China cannot do it alone... If Common prosperity need to be realistic.. We as a human species need to have a one world governance framework and structure... And my capitalism economic model will have a true name and servicing my communism philosophy... hmmm. us human as a single identity comes together as a community and our species..hmmm.
It is nothing wrong with smack down the capitalist monopoly, the US is an excellent example of when Capitalist completely dominate the market, driving off the SME, when SME close down, middle class reduce, when a country's middle class decreased, the country will polarized into two extreme, 99% wealth holding in 1-5% population's hand, 1% share among the 99% population, why revolution happens? Because people are hungry. Common prosperity merely controls the expansion of the super wealth class's wealth.
thanks
Absolute right
As soon as I see Victor Gao, I know it's a propaganda piece.
So besides the anti-corruprtion campaigns (rival removal) there's no real concern for addressing China's Reaganomics.
why so cynical, China's ranking on the Corruption Perception Index, improved for 4 years straight, and have now scored higher than China has ever before. Sure there are a lot more work to be down, but it is improving.
How many political rival does Xi have?
@@obsidianstatue naivety
Wealth is nothing compared to happiness.. people in Amazon also feel happy without any materiallistic need.. u can't bring forward those wealth after u die.. like Steve job and Kobe Bryant.. life is a test..
Poverty is also nothing compared to happiness.
Can happiness sustain life? No. Many misunderstand happiness; true happiness is success, if you're unable to sustain life, or even your own, as an individual, then the 'happiness' you speak of is non-sense, a deceit told to the self to appease the ego and get on with 'life'. Only cowards wear masks.
🤔 wealth helps,though…
People in Amazon have abundant natural resources in their forest.. in modern city with forest of concrete and glass? Do u eat brick, concrete, and glass?
@@patrickmendoza3210 most people in developed economies cannot understand that because they’ve never starved. But that’s expected as they are working off a different level on Maslow’s hierarchy of needs.
common baseline, after baseline difference can take place
Don't let money and wealth lead you. Be the money and the wealth.
Each year for 30 years time , 12.000 turkish citizens students go to USA universities to get desired degrees while 400.000 chinese students fly to USA states for 30 years time to earn their american degrees. In 1990, there existed only 25 Turkey universities while in 2022, there are 261 Turkish universities , where 90 universities are operating in Istanbul Turkey nowadays. In northern cyprus there are only 20 universities in operation. In Turkey only english medium of instructions education giving Turkish universities at all departments ( each of those universities have only 15.000 total students ) are only 13 out of 260.
Excellent,very good
Last time I checked there were still 600 million people who live under 1000 yuen a month income china (140 dollars). Came straight from Li Keqiang himself. Still early to say they eliminated poverty no?
How is it early when they are going with the world bank guideline of $2.15/day while having social supports such as housing provided to them. While also holding the highest Purchasing Power Parity allowing their citizen to have more accessibility to acquiring their material needs.
If the CCP thinks it has eliminated poverty, they should just take a ride outside the cities and see poverty firsthand.
True , that exist world wide though
Communism (everyone is equal everyone is poor) vs Capitalism (unequal, few very rich, few very poor, most comfortable)
Makes sense that President would try to redistribute wealth because inequality causes instability which ultimately is more damaging
If that happened then Santa Claus is real🤣🤣🤣
PEACE IS THE AMSWER !! ☮️
Like everything, it's must weather the situation.
Singapore should implement the Common prosperity Drive... Weed out the rich and make them contribute to the society.....
😂 some of the wealthy was once a China man. I think it should be weeding out the use of cheap foreigners and the use of so call ‘talents’ aka foreign charlatans.
@@JehoiachinReleased agreed....
Singapore is smarter and better than China.
Can you imagine the orchestra playing Chinese music? People will run away with a headache. So much for nationalism.
Bravo
What the flying heck..... It has been a long time since the 2000.... and now, 20 years into this... They literally now says that they do not have the basic foundation here ???
Kudos to China for at least trying to address the structural inequalities brought on by capitalism. In the west, like everywhere on both continents, there is a real crisis on housing. Capitalism itself was never designed to have homes used as investments, John Stuart Mill's unearned increment should be reading for all.
They are doing it in a way that won’t end well in my opinion, they are just redistributing power in the business sector to the government (historically ended badly) , they need a system like a land value tax system or something systemic, not just stomp down certain business sectors and growth like they are doing now.
@@dogetaxes8893 yes, they are seeming to do small social experiments but some bigger corps will fall. Real estate is always a disaster but if Has to hurt
Solve inequalities by forcing home buyers pay mortgages on unfinished units. Nice try!
Being a chinese you know they will never stop accumulating homes as secondary investment income. Must know the chinese mindset laaa. More houses more mistresses.
In late August, China experienced a deflationary trend in both consumer and producer prices, indicating the presence of economic challenges. This deflationary phenomenon can be primarily attributed to domestic factors such as the reduction in pork prices and a decrease in transportation costs. It is noteworthy that the global repercussions of this deflation are anticipated to be limited due to the evolution of supply chain dynamics. Experts posit that the deflationary trajectory observed in China may exhibit a reversal in the foreseeable future. To comprehensively gauge the market's influence on global enterprises, it is imperative to diligently monitor foreign direct investments in China. The resurgence of China's economic activities following its reopening has the potential to impact foreign firms and their respective stock markets. The enduring US-China trade relationship remains a pivotal determinant, with the specter of potential tariff escalations looming on the political horizon. The overarching policy theme of decoupling the economies of the United States and China remains salient. Moreover, there exists the prospect of re-globalization of trade as China endeavors to restore its economic activities. It is pertinent to acknowledge that geopolitical tensions, including those arising from trade policies, may exert a substantial influence on the feasibility of re-globalization. In the near future, the prospect of enhancements in both China-US and China-Europe trade relationships cannot be discounted. Nevertheless, it is prudent to recognize that the long-term trajectory of re-globalization could encounter impediments if persistent political tensions continue to cast a shadow over international relations.
2:10: How do you own a symphony orchestra? Oh, "socialist market economy model." Got it.
It's not like your house economy, a country of population over a billion will have a very complex economy ranging from capitalism, socialism to communism. And, failing to understand that in this economy only means you're a fool and with single ideology.
common prosperity will be made by everyone in China not by any individual.
Nonsense!
COMMON PROSPERITY is a very good thing, but human nature of GREED is time immemorial. MONEY can change people principles. Coz' good and bad goes hand in hand, so does dream and reality of life.
If more money is transferred from the rich to the poor, it will stimulate the economy because more people have greater buying power now.
Good effort from China. Hope they're on the right track. I'm Indonesian Chinese and I could confirm that Indonesian Govt does not have something similar what China does. Indonesian govt just give free money to poor people (but not all) and still corrupted by officials.
Why dun you move back to China since Indonesia is soooo bad?
Not like Xi isn't corrupted. Let me ask you, how did Xi gained 1.2B net worth? Can you explain where did he get the money from? Corruption campaign is only to eliminate oppositions. But I agree, Indonesian govt isn't good either. The tactic is called soft power. By giving people money, the govt is buying them out. But those people who don't create wealth and consume wealth will lead to shortage of supplies. That will soon deplete the amount of goods and services they have. Communism doesn't work. When the US stops pouring money into China, we will see China running out of goods and services. The problem isn't the ability to produce but the lack of willing to produce. Producers don't produce things for free. Consumers don't wanna work and depend on gov or because they had been depending on gov for so long now they don't know what to do when they govt has no idea what to do because foreigners all leave China. The systems don't work for Communism and dictators unless like Saudi Arabia, they at least share the wealth with the people and incentivize them to innovate to transform the country.
🤣And China beat depositors up for demanding the banks to return their money.
i think we need a Singapore Wealth Crackdown
Putting those who built the country in jail and fining them doesn’t seem very inspirational
You do realize that higher taxes are also a form of fine imposed on richer people. And if they failed to pay or trying to get around it they will also be jailed. Black cat, yellow cat are still cats. Don't look at the skin, look at the substance.
I feel like this documentary tell me that the richest should get richer and the poorest should stay poor because all the business has been taken by the rich
It’s just the natural course of the world. The rich gets richer partly because they invest in or create new ventures that benefit the world or are at least needed in one way or another by other entities. What governments should do is make it possible for the little guys to create and compete with the big guys. To a large extent that’s why the US is still so competitive in the world, and is partly the reason why China is prospering now.
It fails to tell us how CCP stole from the rich and now the middle class too.
The same social problems are in most other countries, whether China is doing the right things to solve those problems, at least they're trying. I don't see any other country doing anything effective to narrow the wealth gaps in their societies, and to let those problems grow they can become some extremely dangerous ticking time bombs.
please compare to South Korea. whereas at the same time both countries were destroyed by war.
@@HAMER2U South Korea population is around 52 million, China is around 1.4billion. You need to compare China and India for a fair comparison of how complex to manage a country with a billion plus population.
But no country need to block the connection between their people and the rest of the world.... evidence that ccp has so much to hide
@@sfjava6239 if they cannot manage then they should allow secession and autonomy.
Left and right parties discuss together to resolve equality issues. Pinkcichild: Don’t see anything.
Learn from Scandinavia ... they used to be quite poor countries a few generations ago
quality of post-high school education went down
@Watcher China expanded # of students that attend college.
Except all the government and other officials make sure wealth goes into their pockets . They are excluded from their own ideas.
Without the support of the majority of the common people the present China govt would have been long gone . The present China govt would never forget this !
There Should a wealth Taxes in China
I think this has the potential to be genius.
Fighting corruption and fighting zero COVID 19.. turn back time to zero COVID to zero corruption. Unfinished projects just build more than needed
FOR THE LOVE OF MONEY IS THE VERY ROOT OF ALL EVIL.
Find your spirit. Once you lose the youth. It takes a long time to win them back.
The US is breaking down because of the wealth gap and poverty is prevalent. Singapore is not so bad but the poor are not faring well at all.
A moderation of differences . Water together.the ways are often failings . Everyone is needed but not good excess or taking addictions. They to hospitals . If as us survive who is in charge certainty never. Adaptable more likely
Singapore is failing in that regards
The Black Book of Communism ( scholarship) 100 Years of Communism 100 MILLION Slaughtered
What a stupid question. Communism = total concentration of power. You tell me whether that can creates more fairness
The idea of "commoning prosperity policy will result common poverty"is absolutly ridiculous,it's just the pratice of the essence of socialism which has been proposed by DengXiaoping since the begining of reform and openning implementation.Given the fact that wealth gap between the rich and the poor is bigger and bigger,domestic wealth distribution equality should already be taken into searious consideration,or the commitment to Chinese people by CCP cann't be achived and social stability may shake.