Does it pay to be a communist in China?
A hard-headed assessment of party membership
China’s communists see themselves as a “vanguard party”, full of dedicated social warriors. Less than 9% of the country’s adult population are members, according to figures released on June 30th. Gaining entry can take years. Even Xi Jinping, the party’s boss, was not admitted until his tenth attempt. Aspiring members are often made to attend ideology classes, take written tests, submit “thought reports”, demonstrate their worthiness through community service and survive an interview by a panel of members. Is it worth the bother?
This article appeared in the Finance & economics section of the print edition under the headline “Party cooler”
Finance & economics July 8th 2023
More from Finance & economics
China meets its official growth target. Not everyone is convinced
For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s
Ethiopia gets a stockmarket. Now it just needs some firms to list
The country is no longer the most populous without a bourse
Are big cities overrated?
New economic research suggests so
Why catastrophe bonds are failing to cover disaster damage
The innovative form of insurance is reaching its limits
“The Traitors”, a reality TV show, offers a useful economics lesson
It is a finite, sequential, incomplete information game
Will Donald Trump unleash Wall Street?
Bankers have plenty of reason to be hopeful