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Xi Jinping points China to Communist Revolution 2.0

President's Mao-like common prosperity policies could end up terrorizing Chinese

Xi Jinping marks the Chinese Communist Party's 100th anniversary on July 1. His policies are becoming more like Mao Zedong's.   © Xinhua/Kyodo

BEIJING -- Chinese President Xi Jinping on Aug. 17 announced policies toward achieving "common prosperity," a redistribution of income arrived at through new remuneration, tax and donation systems.

Twenty-six hours after the policies were unveiled, tech giant Tencent Holdings said it would provide 50 billion yuan ($7.8 billion) to the common prosperity initiative.

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