Market economy and China’s “common prosperity” campaign

Weiying Zhang

Journal of Chinese Economic and Business Studies, 2022, vol. 20, issue 4, 323-337

Abstract: It is commonly believed that market economy and common prosperity are conflict and that the income redistribution policy is needed to achieve common prosperity. This article shows that this common belief is wrong. I argue that market economy is the only way for common prosperity. China’s future development depends on our beliefs. If we lose our faith in the market and introduce more and more government intervention in the name of common prosperity, China can only move towards common poverty.

Date: 2022
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DOI: 10.1080/14765284.2021.2004350

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Journal of Chinese Economic and Business Studies is currently edited by Professor Xiaming Liu

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