Trade War with China

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Anlsvrthng

Captain
Registered Member
Hendrik_2000 said:
What make you think that billionaire make decision on the life of Chinese people ? Because they are not
If you see the composition of CCP inner sanctum most of them are either "princeling", Academician, Bureaucrat, or career diplomat. but sofar I know none of the billionaire ever inducted into the inner sanctum of power
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They make investment decision, what to make, where to invest and so on. On its own it is extremely big power.
And finally, they can bend the decisions/ laws .
They don't need to be in the power, but they have way more weight in the political decisions than say you.

Or say that how many average Chinese has the same weight like a billionaire ?
1 million, 10 million, 100 million?

Finally, can you prove that the billionaires are not simply the material realisations of the power in certain circles?

I mean, the politician doesn't has money, but hes network has, and it is coming from him.


This is the typical way how the government / private sector relationship works in the US example.

And if it happens in the US, why China is an exception ?
Considering that in China the level of corruption is higher than say in USA, it is safe to expect that there is many more revolving door and deeper connection between the government and private sector.

I mean, China is in the same league like India regards of corruption perception.

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solarz

solarz

Brigadier
AndrewS said:
No, what you see in the UK is that the minimum wage VARIES according to age. That blows away your argument for a minimum wage stopping the inexperienced from being paid less in entry level jobs.
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Age is not equivalent to experience, and even for the lowest minimum wage, it is still a restriction on what otherwise should be market determined.

AndrewS said:
Plus you don't seem to realise that in even in high-income countries in North America, Europe, Japan etc, the median average wage is only 1500-2500USD per month. There simply aren't enough high paying jobs for people to jump to, even if you work really really hard.
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This is misleading statistics as it is heavily skewed by demographics. In Canada, the media individual income is only $27,600 but the media *family* income is $76,000. This is almost 3 times the individual median, indicating pretty clearly that people with families make more money.

Furthermore, there are high geographical discrepancies. Toronto has a media family income of $94,640 while in Montreal, it is only $76,950. You might think Torontonians are better off than Montrealais, until you realize that Toronto home ownership costs are more than twice that of Montreal.

"High paying jobs" is a relative term, and income only tells part of the story.


AndrewS said:
And remember, most citizens in any country are on low wages, and they will decide not to reproduce given the high costs of having a baby.

In China, we can already see that people can't afford to have more than 1 child, which is going to become a huge demographic problem in the future.
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Like I said, "low wage" is a relative term. A couple in Shanghai can make twice what a comfortably wealthy family in Puyang makes, and still have to tighten their belt.

As for having more than one child, it's funny: everyone I meet in China complains that they can barely afford to raise one child, yet every one of them ends up having a second child a few years later.
 
Hendrik_2000

Hendrik_2000

Lieutenant General
Anlsvrthng said:
They make investment decision, what to make, where to invest and so on. On its own it is extremely big power.
And finally, they can bend the decisions/ laws .
They don't need to be in the power, but they have way more weight in the political decisions than say you.

Or say that how many average Chinese has the same weight like a billionaire ?
1 million, 10 million, 100 million?

Finally, can you prove that the billionaires are not simply the material realisations of the power in certain circles?

I mean, the politician doesn't has money, but hes network has, and it is coming from him.


This is the typical way how the government / private sector relationship works in the US example.

And if it happens in the US, why China is an exception ?
Considering that in China the level of corruption is higher than say in USA, it is safe to expect that there is many more revolving door and deeper connection between the government and private sector.

I mean, China is in the same league like India regards of corruption perception.

Please, Log in or Register to view URLs content!
Click to expand...

If China is at the same level of India then the economy performance should be the same But it is NOT China is 5 X richer than in India and in China Train and subway run on time, School and other public facility work and run on time . Yes there is corruption but that come with territory of fast economic growth. But thing get build and sanitary worker collect the garbage. Just walk any street in China and compare it to India!. There is no slum in China and they have excellent infrastucture

China has anti corruption dragnet that periodically catch and sent corrupt official to long term prison.

Yes corruption still occur but that can be said of any country even in US there is periodically corruption case But thing for most part work both in China and US Forget about all those website that rank corruption It is not done on scientific base. It is more or less subjective judgement

Anti-corruption campaign under Xi Jinping
From Wikipedia, the free encyclopedia
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  • A far-reaching campaign against corruption began in
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    following the conclusion of the
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    of the
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    in 2012. The campaign, carried out under the aegis of
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    ,
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    (
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    ), was the largest organized anti-graft effort in the history of Communist rule in China.

    Upon taking office, Xi vowed to crack down on "tigers and flies", that is, high-level officials and local civil servants alike. Most of the officials investigated were removed from office and faced accusations of bribery and abuse of power, although the range of alleged abuses varied widely. As of 2016, the campaign has 'netted' over
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    .
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    (both sources inaccurate/incomplete) More than 100,000 people have been indicted for corruption.
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    The campaign is part of a much wider drive to clean up malfeasance within party ranks and shore up party unity. It has become an emblematic feature of Xi Jinping's political brand.
 
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solarz

solarz

Brigadier
Anlsvrthng said:
They make investment decision, what to make, where to invest and so on. On its own it is extremely big power.
And finally, they can bend the decisions/ laws .
They don't need to be in the power, but they have way more weight in the political decisions than say you.

Or say that how many average Chinese has the same weight like a billionaire ?
1 million, 10 million, 100 million?

Finally, can you prove that the billionaires are not simply the material realisations of the power in certain circles?

I mean, the politician doesn't has money, but hes network has, and it is coming from him.


This is the typical way how the government / private sector relationship works in the US example.

And if it happens in the US, why China is an exception ?
Considering that in China the level of corruption is higher than say in USA, it is safe to expect that there is many more revolving door and deeper connection between the government and private sector.

I mean, China is in the same league like India regards of corruption perception.

Please, Log in or Register to view URLs content!
Click to expand...

This is just a dumb argument. You're taking how the US works and trying to apply it to China. In China, the financial sector works for the government, while in the US, it's the other way around.

If billionaires really wielded such great power as you believe, then how was Xi Jinping able to carry out his anti-corruption campaign? According to your logic, he shoudl have been bought out by billionaires. It really shows that you know nothing about China and is just writing things based on your imagination.
 
ZeEa5KPul

ZeEa5KPul

Colonel
Registered Member
Anlsvrthng said:
And if it happens in the US, why China is an exception ?
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China is an exception because it has an effective government - not the rent-a-legislator "system" of the US. Once you understand that a lot of things will be clear to you.
Anlsvrthng said:
Considering that in China the level of corruption is higher than say in USA, it is safe to expect that there is many more revolving door and deeper connection between the government and private sector.

I mean, China is in the same league like India regards of corruption perception.

Please, Log in or Register to view URLs content!
Click to expand...
Complete rubbish. The brilliance of the US system - as it always has been - is in marketing/branding (i.e., propaganda). The US is rancidly corrupt, but what it's done is taken the corruption, legalized it, and then called it "lobbying".
 
vincent

vincent

Grumpy Old Man
Staff member
Moderator - World Affairs
ZeEa5KPul said:
China is an exception because it has an effective government - not the rent-a-legislator "system" of the US. Once you understand that a lot of things will be clear to you.

Complete rubbish. The brilliance of the US system - as it always has been - is in marketing/branding (i.e., propaganda). The US is rancidly corrupt, but what it's done is taken the corruption, legalized it, and then called it "lobbying".
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Plus plenty of bureaucrats went to work for the industries they were responsible for regulating. Pentagon is a perfect example
 
manqiangrexue

manqiangrexue

Brigadier
Anlsvrthng said:
I don't know what background you came from, but I am sure no one proud of you in that background .
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You continuously prove your amazing talent for always being wrong LOL. My background is that everyone from my parents down to me has been a PhD in biological/biomedical sciences and no one has fallen into the forever post-doc trap (not that you know what that is). I'm the youngest PhD, Assistant professor, and Associate director of my family. You can't read charts but pretend to understand economics. That is the difference between us.
Anlsvrthng said:
Maybe I miss something, but you arguing about that if a person will be nationalistic even if it means he has to pay more taxes?
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There is no "maybe"; you miss everything. And no, I never said that a person will be nationalistic even if he has to pay more taxes; I also don't disagree with the statement. I simply never said it either way. You have an English problem so you can't comprehend other people's points but instead, you imagine them. Fix your language problem or join a forum of your native tongue.
Anlsvrthng said:
Additionally you can not explain that how the competitive advantage of the non-taxpayers can be eliminated by this way.
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I never explained that because I never said that and we were never discussing that. I simply said I want Chinese people to be richer because that means more tax for the Chinese government. It's a very simple statement that involves none of the garbage you trudged up.
Anlsvrthng said:
Third, it is about dividend paid for shareholders that can be taxed in the home country .If the company wants to grow, wants to move out assets from China ect. then they can easily manipulate the books to no one has a chance to catch them, because that would needs audition by several country a the same time, and in legally coordinated manner.
And that doesn't exist .

C'mon, I see it every day.
The billing between different countries happens by ways that make it possible to realise the profit in the lowest taxation country, and afterwards they can invest that money into the lowest salary country.
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Sorry, you're too stupid. You can't understand. This phenomenon of tax evasion and globalized economy is separate from my general statement that the richer Chinese people are, the more resources the Chinese government can afford through taxes. No one in the world can argue against this and you can't either. You're just spewing out unrelated trash to try to muddle the point. The things you say have no meaning and are irrelevant to the central point.

Additionally, you have still failed to provide any evidence that the wealthy Chinese people pay far less taxes than the middle/lower class in proportion to wealth.
 
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Jura The idiot

Jura The idiot

General
I think there're posts about income/taxation in this thread, so here's what I've now read:
China Focus: China's revised tax law paves way for social equity
Xinhua| 2018-08-31 22:31:52
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China's top legislature on Friday voted to adopt the revised Individual Income Tax Law in an effort to pursue fairer income distribution and statutory taxation.

Lawmakers approved the legislation at the end of a five-day bimonthly session of the National People's Congress (NPC) Standing Committee.

The new law states that the minimum threshold for personal income tax exemption will be raised from 3,500 yuan (about 513 U.S. dollars) to 5,000 yuan per month or 60,000 yuan per year.

Speaking to reporters at a press conference, Vice Minister of Finance Cheng Lihua said the standard has fully taken into consideration the factors of per capita consumption expenditure of urban residents, average burden of the employed and the consumer price index.

Those with a monthly income below 20,000 yuan will see their tax cut by over 50 percent, Cheng said.

FAIRER INCOME DISTRIBUTION

The law defines resident individuals and non-resident individuals as two types of taxpayers. In addition, the length of residence used to distinguish between the two groups will be adjusted to 183 days from the previous 365.

Resident individuals refer to those who have a residence or reside in China for a total of 183 days in a tax year while receiving an income either from home or abroad. They should pay income tax in accordance with the law, it stated.

Non-resident individuals are those who have no residence and reside in China for less than a total of 183 days in a tax year. They should pay their tax on the income they receive in China in accordance with the law.

The tax year runs from Jan. 1 to Dec. 31, it stated.

"The purpose of tax reform is to better adjust income distribution and achieve tax burden equitableness by enabling lower-income people to pay less taxes and higher-income groups to pay more," said Zhang Bin, an expert from the National Academy of Economic Strategy of the Chinese Academy of Social Sciences.

Revisions to the law have lived up to the will of the people and are conducive to improving tax equity, thus enabling taxation to better play its role in adjusting income distribution, said Zhang Chunxian, vice chairman of the NPC Standing Committee, during panel discussions.

The individual income tax was the third major contributor to China's total tax revenue, following value-added tax and enterprise income tax. In 2017, China collected individual income taxes worth nearly 1.2 trillion yuan, about 8.3 percent of the total tax revenue.

STATUTORY TAXATION

The majority of taxes in China have been levied through formal or provisional regulations issued by the State Council until 2013, when the Communist Party of China Central Committee said in a reform decision that it would "implement the principle of statutory taxation."

Two years later, the revised Legislation Law made it clear that a tax can only be levied and the tax rate be set with the endorsement of the law.

The revised individual tax law also adds special expense deductions for items like caring for the elderly, children's education, continuing education, treatment for serious diseases, as well as housing loan interest and rent.

According to the law, the State Council should set the range, standards, and enforcement steps for the special expense deductions and then report to the NPC Standing Committee.

"To make the tax-deductible items clear in the revised law embodies the principle of statutory taxation," said Li Wanfu, head of the Institute of Tax Science of the State Administration of Taxation.

Wang Dongming, vice chairman of the NPC Standing Committee, said during panel discussions that the revisions will help lower-and-middle income groups increase their income, and then bridge the income gap and advance a more reasonable and orderly pattern of income distribution.

REFORM BENEFITS SHARED BY ALL

According to the law, the previous method of taxing monthly income will be replaced with a new calculation which focuses on taxing annual income.

The law states that tax authorities should provide taxpayers with information on their income and withheld tax.

The current law has undergone seven revisions since it was enacted in 1980 when the original threshold for individual income tax exemption was 800 yuan per month.

It was raised to 1,600 yuan in 2005 and 2,000 yuan in 2007. The current threshold is 3,500 yuan according to the revision made in 2011.

The new law will come into force on Jan. 1, 2019 while part of the clauses including the minimum threshold for personal income tax exemption will go into force on Oct. 1 this year.
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Hendrik_2000

Hendrik_2000

Lieutenant General
China not to accept another Plaza Accord, says ambassador

Xinhua Published: 2018-08-31

Chinese Ambassador to the United States Cui Tiankai said on Thursday that China would not accept a Plaza Accord imposed on it.

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Chinese Ambassador to the United States Cui Tiankai.[File Photo: VCG]

He made the remarks while addressing a working lunch of roundtable discussion that focused on the topic of "Next Steps" at the Center for Strategic and International Studies (CSIS), a Washington-based think tank.

"On what to do next, for China it is very clear," Cui said. "I wish to advise people to give up the illusion that another Plaza Accord could be imposed on China. They should give up the illusion that China will ever give in to intimidation, coercion or groundless accusation."

"But at the same time, China is always ready to engage in serious, substantive and pragmatic negotiations and consultations to address the economic and trade issues on the basis of mutual respect and a balanced approach to resolve the concerns of both sides," he said, speaking of China-U.S. relations.

"This has to be a process of goodwill for goodwill and good faith for good faith," noted the Chinese diplomat. "If we can reach an agreement through this approach, I don't think the current economic and trade issues would be that difficult."

The Plaza Accord was signed between the U.S., France, the United Kingdom, West Germany and Japan in 1985 to spearhead efforts to weaken the dollar in order to correct U.S. trade imbalances.
 
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