Common Prosperity and China’s Modernization Model

In recent years, there have been discussions on common prosperity in academic and policy circles, which is a positive trend. Of particular significance is the growing discourse on the relationship between wealth redistribution and common prosperity, a topic of considerable interest both within China and globally. The intense debate within Chinese society reflects two main factors. First, it highlights the widening wealth gap and the resulting polarization between affluent and disadvantaged segments of society. Second, it reveals a growing consensus on the need to achieve common prosperity as a societal goal.