None of this makes Xi Jinping, China’s ruler, happy. According to a leaked account by a professor who grew up with him, he is “repulsed by the all-encompassing commercialisation of Chinese society, with its attendant nouveau riche”. Mr Xi has begun to talk more frequently about “common prosperity”. In January, he declared that “we cannot allow the gap between the rich and the poor to continue growing…We cannot permit the wealth gap to become an unbridgeable gulf.”
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