Xi Jinping just sent a bleak message to China’s super rich ...Middle East

Chinese president Xi Jinping yesterday sent a stark message to the country’s wealthy: It is time to redistribute their excessive fortunes.At a meeting of the Party’s Central Committee for Financial and Economic Affairs, Xi emphasized that “common prosperity” must be a core feature of Chinese-style modernization. The government must promote this goal while maintaining high-quality development, he said, according to a summary of the meeting published by state news outlet Xinhua.The Party has good reason to worry about inequality, which increased over the decades of economic reforms that created a richer and more capitalist society. Last year, China’s richest 20% had 10 times more disposable in

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