China’s government is surprisingly redistributive

when of China leader, Xi Jinping, started calling for “shared prosperity” in 2021, he made investors nervous. The stated goal was to reduce inequality. But the term has come to be wrapped up in something more unrelenting: a morale-crushing campaign to beat billionaires to charity rallies, tighten regulations on big tech firms and curb what Mr. Xi has called “the disorderly expansion of capital.”