'Common prosperity': Can President Xi Jinping make it happen in China?

President Xi Jinping is taking the country on a new trajectory that will significantly reshape many things to come.PHOTO: REUTERS

SHANGHAI - The Chinese will remember 2021 as the year President Xi Jinping brought down the hammer on the country's most famous billionaire Jack Ma and its dynamic tech industry, crippled the private tuition sector and made property developers weep.

It will at the same time be remembered for the Communist Party reasserting its paternalistic bent, decrying excessive online gaming, effeminate behaviour in young males, grossly overpaid celebrities and other perceived social ills.

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