Common Prosperity and the Incorporation of Marxism into China’s Practice

This chapter expounds on the importance of China’s adoption of the development model for common prosperity. Achieving common prosperity is a global issue. Developed countries, such as the United Kingdom and the United States, are facing the “Tocqueville Dilemma”, i.e., how to deal with social instability caused by economic development. The vast majority of developing countries are faced with the problem of how to lift themselves out of poverty, and, therefore, have not placed the issue of common prosperity on their agenda. From this standpoint, this chapter argues that China’s pursuit for common prosperity is crucial for three reasons. Firstly, China’s Common Prosperity Program helps consolidate the ruling foundation of the Chinese Communist Party. Secondly, common prosperity is China’s contribution to Marxism. Thirdly, Zhejiang Province’s successful experience of experimentation with high-quality development and common prosperity has provided a timely expansion to the literature on China’s development and reform model.