Common Prosperity: A Trap for Chinese Big Caps?
Recently, we’ve been bombarded by headlines about Xi Jinping’s latest “common prosperity” campaign: For the uninitiated, here’s a quick definition of “common prosperity” and why investors are being spooked by its potential impact. What is “common prosperity” or 共同富裕 (gong tong fu yu)? According to UBS, China’s President Xi Jinping’s aim with the “common prosperity” … Read more