Here is an attempt: We have work to do in order to achieve common prosperity.
Hard work should be the means to prosperity and there should be no excessively rich people or people being allowed to give up and "lie flat".
Communist economics will remain the backbone with the state owning all and allowing people and companies to lease, allocate, and trade properties only for constructive operations.
Economic growth should be scientifically optimized for the whole population, not leaving anyone behind while also not promising too much or allowing plentiful welfare to make people lazy.
China must commit to long term growth with a heavily managed economy and a focus on special economic zones and six principles:
1. Development must be smooth and even with companies of all sizes
2. Middle class people are happier and less trouble than extreme rich and poor. Increasing educated professionals will help with this and the government will hire many and pay them well.
3. Everyone should have access to good quality basic services like health care
4. Get rid of extreme wealth with taxation, confiscation, incarceration
5. Increase spiritual well being
6. Improve rural stagnation and poverty
Sounds like it's mainly about soaking the rich, with a bit of "spiritual well being" goop thrown in.
> with the state owning all and allowing people and companies to lease, allocate, and trade properties
Well, that's how it is in the UK - all land is ultimately owned by the queen. The rest of us are all vassals. I thought there was something similar in US land-ownership law.
The first major business cycle ever is hitting modern China hard
an has people seriously freaked out.
The price of houses never goes down some still say.
Sure, so then your currency takes the hit.
This is going to be rough,
and combined with damage from tragic natural disasters
there is the possibility of unrest and change in China.
The references to avoid too much welfare, laziness, and lying flat
show the government is seriously freaked out
by the young generation simply not working
with the same frenetic pacing and lack of restraint
that used to be present broadly in Chinese labor.
Emphasizing Communist Party ownership of property
and management of the economy and riches
means a heavy hand will be used whenever deemed necessary.
It is also worth pointing out that this endorses health care access
and improvement of rural areas
but has not particular way of accomplishing this.
Also, the heavy hand and emphasis on hard work
is arguably in opposition to calls for innovation
which is often driven by people taking risks
in order to achieve great wealth
both of which are now strongly discouraged.
Previously, Xi says they were heavily focused on growth and didn't worry about inequality. Going forward they are claiming they will be a lot more concerned with the latter
