CHINA-ECONOMY: GUANGMING DAILY SAYS DIGITAL ECONOMY WILL EXACERBATE INCOME INEQUALITY AND ADVOCATES DIGITAL TAX
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A major Guangming Daily (February 15) article on the digital economy and common
prosperity asserted that the tenth meeting of the Central Financial and Economic Commission
in August 2021 made comprehensive and specific arrangements for common prosperity, and
the Central Economic Work Conference in December 2021 stipulated further "clear
requirements for the guiding ideology and practice path of common prosperity". It said the two
cannot be separated and "the digital economy will not alleviate but exacerbate the income
distribution gap", and advocated introduction of a "digital tax" to help with that. It called for
speeding up the establishment of an income distribution system and added that "Preventing and
defusing major financial risks, especially preventing the occurrence of systemic financial risks,
is the core task of financial work and the eternal theme of financial work".
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