Xi's 'common prosperity' forces Wall Street to rethink China risks

Reforms to reduce wealth inequality bring pitfalls and opportunities for private sector

20211022NY Xi Jinping clapping hands

Chinese President Xi Jinping applauds at a meeting commemorating the 110th anniversary of Xinhai Revolution at the Great Hall of the People in Beijing on Oct. 9.  © Reuters

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- A week after details of Chinese President Xi Jinping's new political slogan "common prosperity" were published in a Communist Party journal, investors on Wall Street are coming to the realization that the world's most populous country may be on a significantly different path from before.

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