OVER THE past half-century, China has conjured vast wealth out of widespread poverty. Now comes the vexing part: how to pass it on to the next generation. For China, this poses a new and underappreciated risk. On its current trajectory, the first great intergenerational transfer in China’s modern history will widen inequality, cement privilege and breed resentment. The government, devoted to “common prosperity”, is shockingly insouciant about what that will mean.
This article appeared in the Leaders section of the print edition under the headline “China’s new dynasties”
From the March 14th 2026 edition
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