When Xi Jinping took command of the Communist Party in late 2012 and proclaimed "only socialism can save China," it was largely ignored as the perfunctory mention of an antiquated slogan — not to be taken literally in a modern-day, market-powered economy.
But sweeping new policy moves — from crackdowns on internet companies, for-profit education, online gaming and property market excesses to the promulgation of "Common Prosperity" — show Xi's seriousness in steering China back toward its socialist roots.
Having done away with term limits in 2018, China's most powerful leader since Mao Zedong is pushing what some observers describe as a mini "revolution," curbing the excesses of capitalism and shedding negative cultural influences of the West.