Chinese leaders rejuvenated the idea of common prosperity in August, a notion previous leaders of the Chinese Communist Party, Mao Zedong and Deng Xiaoping, alluded to repeatedly in the 1950s and 80s. It is the idea that China’s citizens must all share the prosperity of the Chinese economy through striking a balance between efficiency brought about by capital and fairness for labour; through material being and culture; and through prosperity not just for a few, nor an absolute equality in the distribution.         

The clarity of the Chinese leaders’ overarching policy agenda is something SA policymakers should emulate to help provide the policy certainty that has been absent over the past decade. The coherence in their communication of policy removes confusion about the intended goals. Their sequencing of implementation of policy, which has been the case for the last three decades, has produced the intended results. Finally, their ability to make and live with the hard trade...

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