According to the article by Charlie Campbell in Time Magazine1, China's "common prosperity" policy aims to reduce the wealth gap between the rich and the poor by expanding the middle class, increasing the incomes of low-income groups, regulating high incomes and cracking down on illicit gains. The article suggests that China is pursuing a form of socialism with Chinese characteristics, which differs from both Western capitalism and Soviet-style communism. Some possible points you could make in your essay are: China appears to be practicing a form of socialism because it is trying to address the problem of scarcity by allocating resources according to the principle of "from each according to his ability, to each according to his needs". This means that the state plays a major role in planning and regulating the economy, while also allowing some market mechanisms and private ownership. China's socialism with Chinese characteristics also reflects its unique historical and cultural context, which values social harmony, collective welfare and national sovereignty. China rejects the idea of copying Western models of development or democracy, and instead seeks to find its own path that suits its conditions and aspirations. China's common prosperity policy faces many challenges and contradictions, such