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Ultraleftists call Xi Jinping's policy upheaval a new revolution that takes a harder line on everything from runaway capitalism to effeminate male pop stars.   © Illustration by Daniel Garcia
The Big Story

Bombard the headquarters: Xi Jinping's crackdown keeps growing

The new 'common prosperity' doctrine hearkens back to the Mao era

RICHARD MCGREGOR, Contributing writer | China

Billionaires banished. Celebrities canceled. Private businesses wiped out overnight with the stroke of the ruling communist party's pen, along with a ban on the once-common practice of raising money offshore.

All of which has been prompting officials, investors and indeed anyone with a stake in the future of the world's largest country to ask -- what on earth is going on in President Xi Jinping's China?

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