Common Prosperity
“Common prosperity,” or gongtong fuyu (共同富裕), is a phrase that has been used by successive generations of Chinese leaders to express the overall goal of economic policy-making in terms that emphasize broad benefits for the people of China, while at the same time legitimizing the specific political agendas pursued by the top leader — in the process shoring up the legitimacy of their leadership. As such, the content of “common prosperity has changed rather dramatically over the decades, from the push for agricultural breakthroughs in the era of the people’s communes, to Deng Xiaoping’s justification of letting a few get rich first. In the Xi era, the phrase has become synonymous with efforts to curtail excessive wealth, crack down on monopoly behavior, address income inequality, and promote “people-centered development.”
