This kind of reads like western propaganda trying to carry water desperately for capitalism. I forgot what part of communism meant you couldn't have semiconduct

This kind of reads like western propaganda trying to carry water desperately for capitalism. I forgot what part of communism meant you couldn't have semiconductor factories (Regardless, China's largest semiconductors are state owned so I don't know why he brings this up). A much more rational view I've come to understand is the CCP now has very wealthy leaders from the private sector who are now getting more active in politics. This is standard - once a business grows large enough, business risk from the state grows larger and it becomes important to be able to influence the state. China will now have to balance the needs of the public and private sectors and I imagine the old guys aren't as keen to let the private sector do what it wants. The common prosperity initiative is now a tool that Xi can wield against more capitalist upstarts in the CCP.