Please make a video on India's all text problem. And how we can solve that 🇮🇳

can u put germany on the leaderboard/can u make a website where u can see the national leaderboard?

isn't china the soo called surveillance, tyrant, autocracy country? how the ppls there dodge paying taxes and still alive? day after day why i keep seeing contradiction?

China is literally the first largest economy in the world. This propaganda that the US is, is a farce. This is literally proven every day of the year.

Can you do a video on the impacts of restricting/outlawing abortion in the largest economy in the world?

Whoa, a Perun sighting! It's a meeting of the Aussie minds!! We are in the presence of greatness! 😀😀

This man recently made a great video on myths surrounding Putin’s war. Love the analysis videos consistently providing quality insights.

In china you lease the land so you can keep selling over and over.

Yea, who would think a Communist nation doing inefficient, and un-needed make work projects to keep up appearances.

yea because that worked so well for a certain real estate mega corporation in china... I suggest printing money at exorbitant rates just like the united States.

Heavy taxation means heavy theft

In ancient China, the tax burden was generally around 7%. For example, in the Ming Dynasty, you harvested 100kg of grain, of which 4kg was handed over to the state. While other East Asian countries, such as Japan, have a tax burden of more than 50%, and later implemented the system of four citizens and six citizens, that is, 40% is turned over to the state, which is also considered a kind system.

@@user-jq4uh3jy3j It's called theft, not tax.

@@mereen750 Tax is a responsibility of a citizen to help contribute funding of government programs (E. g. security, welfare, legal, basically responsibility of a government to its citizens). But if you are paying taxes and the government does not give something in return, doing their responsibility, you are right. It's theft. Politicians rarely understands this and act like its only a one sided obligation. Obligation of citizens to fund their lavish lifestyle. In China, what you said is somewhat true. Especially during the end of dynasties where authorities cannot fulfill their obligations. Warlords stealing people's produce in guis eof taxation. Lol

@@linming5610 So when the thief steals your money under the threat of violence and says he only wants to protect you and that he likes what he buys with it, it's not theft?

It can keeps 5 sets of books. One manager account (present real business), one for taxmen(to avoid tax), one for loan banks (to get more cash), one for minor shareholders (to justify low division) and one for owner (so they will understand can theft how much money from company without noticed by other parties.)

COVID couldn't be more overrated, can't imagine the frustration, boredom and worry those people went through.

@@sudind American's population density is much much less than China's, and there are 1 whole fkin million people died of covid. Covid's damage could be higher and lower in different countries. If China treat covid like US did, there will be easily 4-5 million people died. China cares the lives of its people, that's the simple logic. US? from government to normal people, nobody gives a fk about other's lives, especially elders'

@@alexanderchen6373 Exactly. Nobody cares about the madness. The truth is that food needs to be paid for, and there is only so much government can do without having chain effects on the nation. The gears that run the country needs to keep on running or else the economy will have more severe effects on people than COVID. The death rates spiked shortly after lock downs were lifted despite high vaccinations. Medicines will not kill this disease, and the world has accepted that. Zero tolerance for COVID is nonsense that does more harm than good. China needs to admit its loss against the war against the virus like the rest of the globe.

​@@sudind "the world has accepted that" does not mean China has to. If China can do better if China can save 5 million lives why would China "admit its loss"?????? The rest of the world lost doesn't mean China has to lose too. "The economy will have more severe effects on ppl than covid" this probably holds true for the rest of the world, not China. The western countries especially US can't even educate their ppl to wear a fkin mask, of course zero tolerance won't work and harm the economy than covid in these countries. Congrats on your public education system. China is doing ok right now and able to hold it as the world's factory. If China "admit the loss against virus? 5 milion Chinese will die for that (of course YOU don't care) and this very World's Factory will stop working. And western countries can't buy cheap products any more, on top of this stupid inflation caused by US, the world will turn 10 times worse than now (including China). So stop pointing finger to China and tell what China should do, you know absolutely NOTHING about China.

That's insane. Even in NZ Auckland here with lockdowns people overseas freaked out over, I still went grocery shopping, to the pharmacy, brought art supplies and stationary etc.

Does that not fall under "Stability and Confidence"?

Also freedom and taxes should be included

@@TheSkiddywinks maybe but I would have thought stability and confidence relates more to politics

@@realfrantheman Freedom would likely introduce too many variables and bias, and require to many assumptions.

I would argue for sustainability as a metric but more looking at the environmental impact of the sources, f.e. if selling of your resources has a negative environmental impact long term the sustainability score should be lower

Just some "ivy league" economics guys with their usual subjective projections

They definitely got a few bribes and/or threats from the CCP to boost that credit rating because you don't even need to be an accountant to realize how rickety their house of cards is.

Which financial crisis?

@@paullnetinstitute4799 not really. They are really smart people. They KNOWINGLY give false ratings

Yeah, rating agencies are in the business of closing the barn door after the horses have already left.

Exactly internal revenue SERVICE

Lies again? MLS Education Income Tax

DK Works So your a leach, not contributing to a country your working but you won't dare do the samething in your country

​@@baikeiast5255That's an oxymoron. If you are working in a country, you are already giving something to that society. How can one be a leach for giving?

​@@user-zu5do6ri6respecially since working immigrants often don't get many public services. They don't often qualify for unemployment or disability and may not be able to use public Healthcare and they rarely qualify for things like low income housing. That's especially true for xenophobic countries like China.

@@makemetallichydrogen426 lol no doubt on that, india no.1~

@@shawnz3307 oh,you must be from a great country😁

@@makemetallichydrogen426 first all, match China's GNI

@@shawnz3307 Jai Hind

@@makemetallichydrogen426 Are you sure?Is clearly the king of the universe

That is certainly possible, but the policy would cause a collapse in property values, severely reducing the viability of new developments and reducing revenue.

@@alanpatterson2384 Yes property values will decrease but only for properties that have less years of lease left. Say if 10 years is left then people won't buy it so it will become cheaper but the 70 year one will be costlier. So overall we can say it's going to be balanced, not completely though.

@@hackerpro5015 Not balanced for the individual though, it would be massively unpopular.

The idea was raised a few years ago but the pushback was too much. Now they say it will be free to continue the lease after 70 years.

Hey!! Did you know God is three in one!? The Father, The Son, and The Holy Spirit! Bless him! Jesus died for our sins, rose from the dead, and gives salvation to everyone who has faith in him! True faith in Jesus will have you bear good fruit and *drastically* change for the better! Have a blessed day, everyone!! ❤

They’ll end up like the USA. Reeling from late stage capitalism

Yeap this goes against natural growth and competition.

What Keynesian economies does to MFs.

Major Entertainment companies from the USA?

At least the Chinese grow in actuality with new cities and greenified deserts while America grows only nominally but in reality is decaying and on its last leg.

Well said! I am also here to learn more genuine ways on short term investment, any idea here?

@@rajeshupadhyay5683 lookup Priscilla Dearmin-Turner, this is her name online, she's now the real investment prodigy since the crash and have help me recovered my loses

Investment now will be wise but the truth is investing on your own will be a high risk. I think it will be best to get a professional👌

@@lezliewhicker8450Thank you, Going through her profile in her webpage, she smashed all her state certificate and accreditation🙏

I heard she always have a way of linking someone investment into something new and profitable?

It's like the Pinocchio film where the children are just enjoying their night of decadence until they're changed into donkeys & loaded up

@@RichardWKeys The deliberate policy of Government, Big Business, Academia and of course the Media of dumbing down the American Sheeple has proven to be a great success. God Help our Nation!

​ Denial is the first stage of the 5 stages of grief, I've already been through all 5 in grieving the loss of all I've ever known in this present market. Many people will not accept the coming agendas and when it gets right down to it death will be preferable imo.

@@brandonr.navarro5896 To recover your losses , get yourself an aid (FA) because Invstin requires experience and higher knowledge. So to attain productive Invstmnt, It's important to have a solid support structure ( FA) to guide you.

@@christopherberends8242 Do you use any FA? If yes, whats the progress so far

This. It's very misleading to look at tax revenue as a % of GDP in China. The macro tax burden (there are two different definitions of it) is probably a much better comparison.

With cash and private transactions some industries don't collect and or don't pay VAT. Similar to most post USSR countries. And VAT rate ranges from 0-13%, similar to most other countries.

It doesn’t really miss it. It’s not that big. For example most exports are exempt from VAT, and you can claim a refund on any VAT charges. Too many loopholes that can be exploited. They’ve been saying they will upgrade/change it for a couple of years now. 95% of all VAT is refunded so it’s not worth mentioning.

China is not just another western country. If the state wants taxes they can just make new ones. In china the state is seen as an elder and must therefore be respected.

@@miniaturejayhawk8702 The ccp is also interested in keeping stability. Can't tax people too much otherwise there will be protests.

Isn't it what every big company does in the west? None of them pay tax, but all do record profit...

Lol “everyone” contrary to popular belief the 1% pay 99% of taxes collected in the USA. Everytime there is a video insulting Chinese or Russia in the person immediately deflects to the west 😂😂😂 barbaric Neanderthals argue like 6 year olds. Still socially behind by 3 centuries

@@tiloalo they only don't pay federal taxes. They pay billions in sales taxes and local taxes. It just makes for a nice headline to say they pay 0 taxes but usually the article will then state that its federal income tax that is at 0%.

Sorry but that's retarded. All the government has to do is look at the second set of books. This would allow them to call 'bullshit'. I don't believe your professor's story at all. Not surprising. Professors are just thinkers, not practitioners. I guarantee he hasn't worked a real day in his life.

@@tiloalo the just use company structures to reduce taxes which is legal

I think demand and population size shouldn't be seen as completely linked. What I mean by this is that if the Chinese population gets individually wealthier, demand for consumer products will still rise. Obviously, this might not apply to real estate

Chinas population has already begun a long decline that will continue to the 22nd century. And because the Han population is very xenophobic to a degree I don’t see immigration helping anytime soon, house demand will drop it won’t increase

@@zenpai5998 I disagree, it's impossible to "predict" future xenophobia. In 50 years, Japan and China might finally open up to some immigration once the generation of xenophobia and cultural fears disappear.

@@J_X999 that’s extremely hard while China keeps pushing anti Japanese media, seriously do you not take accountability for the CCP? They’re hostile to everyone who isn’t China

@@J_X999 also do you really think Japan is in a position to send its people to China? It’s also in decline with its population

with all the shenanigans that currently happen right now , that is doubtful

For me it would be like 4/10

Well, the economy will only destabilize there if their party destabilizes. As of now, the party is as strong as it was during Mao.

I think it meant the stability of the entire economy not a particular buisness

@@ishanbhusal0177 i dunno man, during mao era people died of famine, that's not strong

I think they put a lot of work for this

i pay income tax ( 20% of my money (

but India's economy is formalizing at a record pace.

@@PK-tt5kk Still a lot do. Nothing in comparison to China, also even after formalization, people find the way to avoid paying it somehow.

This is where corruption makes up the shortfall in funds.

@Sumeet tanwar They pay indirect taxes in other countries too. Oil prices is only one thing, they are mostly affected by foreign influence as well, but most of the things are much cheaper in comparison to other countries.

It is not a democracy, the rules we're familiar with do not apply to it.

This shows how well China hide their problems from statistics

Investment opportunities are very different from economic power. The economy of China isn't going anywhere, and will probably continue to grow, the system of government limits investment markets to a very unsteady and risky asset. So while the economy and nation will survive, any investment you make won't

@@levitschetter5288 ya if your a foreigner they will just take your money . And if they don’t , they won’t let you take it out of China China is a NO NO and the ccp needs to be dissolved screw that destroyed

He's Australian. That explains everything.

agreed

Bitte

This ☝️

I believe Germany would get a super low score today, they are on the loosing end of many technology transfers with China. Chinese auto makers are replacing Germans. They have no natural resources.

pin this lad!

Stability should be high, due to China's willingness to use violence to enforce it's governments wishes; it will have it's way until it lacks the ability to get it's way. Confidence I agree with you on.

@@absalomdraconis who is that stable for though? Certainly not for businesses or investors

Exactly like it's not stable at all. One of their largest companies literally defaulted on their debts not that long ago. Shanghai which was their economic hub, has suffered huge economic losses because of the forced lockdowns.

He's a real economist you should believe jim

middle class is penalized everywhere. In Bulgaria we have 20%VAT + 10% flat "income tax" over your salary which totals 30%. This is w/o the other taxes for waste, buildings, car, healthcare, etc. If you own a small company, you cannot get government order - that's how the mid class is hit.

That's how everyone handles taxes. In the US our wealthy elites pay a smaller proportion of their taxes by abusing different tax deductions and the system of capital gains tax. You can defer your investment earnings from getting taxed as long as you don't sell the investment. You can, however, use the investments as collateral to get very favorable loans and then wait for a year where the market crashes to sell allowing you to write off your investment losses (it counts directly against your tax bill so you can continously offload your poor performing stocks and assets risk free as they reduce your tax burden while retaining the high performing investments). They often pay little or no taxes even as their investment portfolios go up billions of dollars.

​@@Pensnmusic Except the data shows this isnt true at all. The top 1% in the US pay almost 40% of the income tax collected, while earning 20% of the total wages. Youre also ignoring the fact you have to take a loss, to use a tax loss... In what Universe does it make sense to tax a $1000 gain, if I have an offsetting $1000 loss?

@@Tttb95 Most people are talking about proportional income. When you work 50 hours a week to make $100k and then get taxed down to around $70k it feels alot worse than making $30m and getting taxed down to $15m.

As a Chinese I can confirm that all of the issues mentioned exists in China and are as serious as they are said in this video. Your video is pretty much a spot-on.

See, I am an Indian. Breaking up with the West is both a problem and an opportunity ( it's a challenge). Yes a lot of people are fleeing. But i believe there are millions of chinese as are millions of indians who would stay and toil for the land they were born in. If we do not stand for our family who else will. And we are lucky for we live in times of uncertainty. I am not concerned with the results. I will do my work - whatever happens will happens And yes, china has its problem but you have an opportunity to fix it. Best of luck.

As a guy with 2 arms and 2 legs, i find all these ethno-proclamations cringey

the whole world is facing the same population challenge,not just in asia so elon musk is always urging ppl on it,plz making baby

They have the infrastructure, with infrastructure comes immigrants or visa workers.

Well, the Chinese are famously pessimistic about the state of their country. Chin up mate!

what can India do to raise more taxes?

@@AmitJoshCjPope Rasing taxes will be a very unpopular move here according to political landscape. The existing tax base consisting of private employees, govt service personnel, small and mid business owners are already unhappy by the double taxation. These guys pay tax when they earn and also when they spend. It's hurting them but they aren't organised enough to make a meaningful noise to fall into the ears of policy makers. Increase tax base will make others really unhappy and that shows in the voting patterns

The US also creates the money to spend out of thin air.

same like indonesia, our govt prefer to taxing corporation but forget to empowering the low income worker, our minimum wage still at tax free bracket🤣

@@AmitJoshCjPope Making stuff digital makes it way harder to hide income since there's less cash on hand transfers and more digital transfers. UPI should help to solve this issue.

The lease got extended after some validation. It's just an inherited communist idea that no individual but the country own the land while China is a Capitalist power house now.

That is EXACTLY how things work here.

Very true

Sounds like US government

You are projecting western government of tax collection via anyway necessary including auction off your home or property for couple dollars of unpaid tax

This is severely under represented in the video. China can not abandon zero covid. They would have to admit that everything they have done has been pointless and that their vaccine is garbage. This is politically devastating for a country that is already dealing with so much internal turmoil.

Genuinely made me really upset to see a city I love be essentially strangled to death. I don't think Shanghai will ever be the exciting, vibrant place it used to be again.

I think the word youre looking for is "downplay"

EE sits on the fence too much on too many issues. Lockdowns being one of them.

@@oldskoolmusicnostalgia I'd rather that than all the blatant pandering and bias I see so much more on the internet, especially wrt China.

Australian media and government bows to CCP control so it is no wonder that he is not aware of the realities of China.

Stop watching CNN is your only solution

I'm in South China...what flooding?

Also name a government that isn't battling corruption.

It's a bit odd, but the video itself isn't about that. I'm not sure it should rank that high though. It has unbelievable growth, but it's like building the word's largest bridge in under a month with concrete and matchsticks. Super Impressive to be sure, but there are a lot of factors that threaten to destablise that bridge. The far bigger issue with that is, if China's bridge does falter or crumble, it's taking the world down with it-just about every country is intrinsically linked to CHina's economy.

wealthy chinese know all about it! :) hahah

CCP has fucked it up.

It's a great way to launder money.

"Is housing in Canada a Giffen good?" would be an interesting video

@@luddity How?

I wonder what more was fake about said expensive piece of equipment....

it's surprisingly common. The company I work for has sales teams and factories in China. The cost of shipping things in and out of China (customs etc) is very expensive, unless you're in one of those special economic/customs/industrial zones then it is processed through more simply. So the common way to deal with that is to call it a "commercial sample" with basically $0 value. The special customs zones means if your company builds a factory there, goods your factory makes and ship out of there are not subject to sample level of customs scrutiny as if you were on the other side of the zone. It's all very strange when you think about it.

Someone I know does that with all imports regardless of country.

Its not exactly fake. They basically create a transaction stemming from Vietnam or Thailand, where there is a real legal entity, but more like a procurement arm that books sales. TADAH trump tariff bypassed.

Yes, that's typical in China, almost everyone does it, including some of my own relatives. It's also how rich people launder money and get money out of the China (circumventing the $50k/year capital control law).

It will and China will cease to be a major part of the world economy.

Unfortunately the ranking list doesn’t have negative numbers on it.

That would cause an absolutely massive revolt.

People would just shift to buying in person then

You will see a revolution... China isn't like most Western rich lord nations. The ppl r fking poor as fk. They earn like sht 2000 rmb or 3000 monthly and if you just ramp up their fking living costs they will just die

Right? I was thinking how confidence was high in the housing market before the 08 crash too... it's high until it isn't

one way or another.

I wasn't expecting it to be so high

China proves everyone wrong bruh just look how much people thought China would collapse in the 2000s China has a property bubble that never pops

Need a follow-up analysis a year from now to see how far it drops. Assuming that the country doesn't disintegrate.

@CK Lim ikr plus the factors they mentioned later esp about people not being able to produce nil income off of those properties is just💀💀

@CK Lim Usually the renter doesn't pays said taxes. But SOMEONE owns it, and he/she as owner has to pay certain taxes. At least that is how it usually goes i countries. China is weird though...

@@MasticinaAkicta In China all land is technically state-owned. Property "owners" actually have a lease, this is explained in the video.

Land Value Tax is better

@CK Lim if you only tax rental property then (1) just not rent it out to avoid tax, and or (2) dodge tax by paying under the table. So the government end up back where it started. In Shanghai, it's trying out putting property tax on second property onward.

That wouldn’t work in China the government owns all the land, they would be taxing themselves.

Land tax? would need to have someone other than the government to own the land, as it stands you can only rent the land not own it as I understand.

This is what they do, they depend on land sales.

I believe there were proposals for that but at a regional level as an experiment. Not sure if they did it though, pushing a new tax is very hard.

Exactly my thought, suprised that you think the same.

China sees foreign capital as a security risk for some reason so that's why they discouraged foreign investors. China has chosen social issues over monetary benefit such as controlling the property sector by cutting off Evergrande and having a low tax rate. This will definitely have consequences in the future.

Seen alot of him, I find alot of his predictions to be stretches. China has enormous potential, but their government is handicapping them.

I dont remember the exact specifics but Ireland set up a sort of super business friendly zone which attracted alot of companies to have their European headquarters out of Ireland. I think they cut some of the special privileges that the companies got but they still are headquartered there out of convenience. en.wikipedia.org/wiki/Shannon_Free_Zone

Zeihan is good at explaining the west, especially America. But, he fails at properly forecasting countries in Asia

I think it just depends on what you're trying to rank. For economic power they would be #2 behind the US. For industrial power they're at the top. For natural resources they're in the top few. For future prospects they'd be somewhere in the middle due to the massive growth but copious systemic issues. For income they're in the middle. For "stability/confidence" they're below average. The leaderboard in general is more about the current proven state than about the probably future state. EE tries not to speculate too much and often mentions in the ranking how the number will likely change due to various factors. I think there is a good argument to made for redoing or at least clarifying the ranking methodology. Perhaps not giving an "overall" rank would make the most sense but for KZfaq views is may not do as well.

Probably less than 5%

India would most likely end up with a score of around 6 on the economic leaderboards using the current scoring system

Economist here: Primary policy causes of inflation in the US are: 1. 4-6 years of unusually low taxes without concurrent spending cuts 2. Large short-term stimulus spending in the form of direct payments 3. Extremely low interest rates that encourage lending and spending. 4. Restrictive immigration policies that prevent the leveling of supply and demand in the workforce. 5. Last but not least, global events (COVID-19 and related shutdowns, Russian invasion of Ukraine) that have snarled supply chains

@@jacobbwalters8133 how much of the inflation fo you think is solely due to international factors?

@@ben5056 I am going to preface this post by saying that while my previous post was based entirely on data and tangible research done by credible think tanks and research institutions, this one is based in large part on my experience. While it is easy to pick out drivers of inflation based on historical data and trends, it is much more difficult to pinpoint just how much of a role each factor plays. I am sure that other economists have slightly different views. I personally believe that international factors like war and disease have played a greater role in pushing inflation than the average American is willing to admit. When people begin to feel powerless about a situation, they tend to envision solutions that put them back in control. This is why in democracies the economy is such a good indictor of reelection chances for incumbents. In times of crisis, they become easy scapegoats and voters express their frustration with economic circumstances by voting them out of office. Unfortunately, the reality is that economic circumstances are determined by so much more than a single person or party. I also find the international factors to be inextricably linked to the policies they spurred. Essentially, you get into a chicken or the egg scenario. Was Covid to blame for supply disruptions or were Covid related shut downs? Was the invasion of Ukraine to blame for inflationary effects on gas and other commodities or were retaliatory sanctions? Your answer could depend on your opinion of the necessity of the reactions in both instances.

Inflation is the US was caused by supply chain issues and the low rates the federal reserve imposed for so long compounded with the more reactive reaction rather than pro active one. Um. That’s basically it.

That was how it started, but now the federal government determines whether or not something is under its purview.

Lol, just watched it. He doesn't even mention the US, just says "most countries". Your comment didn't even deserve my first reply.

@@robgronotte1 That's why I gave the timestamp. We he says that most of your governments use this system he showed a picture of a US state capitol building (not sure which one). It's very likely that most of his viewers are American.

@@robgronotte1 As for whether or not something is under the federal government's purview I still believe that that is up to the states. The federal government is limited to powers enumerated by the Constitution. Yes the Supreme Court interprets the Constitution but they can't arbitrarily grant powers. The court has to work with what is written in the Constitution, a document that was created by and can ultimately only be amended by voters in separate states, not a national vote. The Constitution can be amended only by a two thirds vote of both the federal Senate and the House (who are representatives of individual states) or by a constitutional convention called for by two thirds of the state legislatures (who represent the same people who selected the national politicians)

@@hans7686 for 200 years the federal government has arbitrarily increased it's area of control, without constitutional amendments, and very rarely has been blocked. When they have been blocked, it's been by the Supreme Court, also part of the federal government. What you describe is probably the way the states originally intended, and maybe even what the founding fathers intended, but it's not what ended up happening.

The world will be better off if the ccp is destroyed

If say still be worried. If they do fail, like you'd want your enemy to, it'll still have knock on effects on the global economy, and therefore you too.

I told you... idk these ppl that says China number 2... for what how long? It has NOTHING and will be NOTHING!

@@kylefawcett4810 Right but to class them as your enemy and want their downfall would be to have considered the consequences already. No nation state looks to conquer or remove another without understanding the ramifications, and hasn't done for centuries. Perhaps China (the state) is so distasteful to me that I'd suffer personal hardship to see it collapse. It's a threshold rooted in personal values, there's no absolute truth to it.

While I strongly wish for the end to the CCP's dictatorship, the damage of an economic collapse would do both to the people currently under its rule and globally still is a worrying prospect.

The informal economy is so stealthy, it's hard to know it even exists.

Except when they take action against fraudulent business leaders who steal millions from the people. Then they actually kill them. There are more repercussions for being an amoral business in China than in America.

Pretty common, honestly. You can control the economy or the culture but rarely both.

The Chinese government and the Presidental office is constantly surrounded by so many contradicting interest groups that it's hard for Chinese government to remain effective. And besides, the Chinese government chose to give up direct control over its economy for economic growth when it switched to capitalism.

They never had any control to begin with. Can you imagine pissing off 1.4 billion people? They wouldn’t be able to get away with that like with the US government. They’d have enough people against them to start a civil war so everything hinges on keeping their people happy.

The two y-axis scales are almost the same (2.5% vs 2% increments) but the x-axis zoom is different. The ten common years, 2008-2018, show 15% to 18% for the US and 9% to 10.3% for China. Ignore the visual slopes when the zooms differ but the direction still tells us something.

True. There are tons of favors and hush money going around. In fact, people want these “gov official jobs” just so they can get these benefits.

Guangxi, been living there for 15 years and you're right

A fair income tax is a way for citizens to hire other citizens to provide services that are needed. For example, a certain percentage of the population is students. Given an optimum ratio of students to educators, one can justify a certain tax rate for that purpose. Similarly, one can justify income tax rates for other services such as healthcare. However, this idea is currently being stress-tested due to demographic trends affecting the ratio of earners to pensioners.

Wouldn’t go as low as that, but I can understand why you’d lower it. You also have to take in consideration that China has probably almost always the most advanced technology, either produced at mass or even invented in china that you couldn’t lower the stability scala

This is 100% accurate. This video does point out some flaws in the Chinese system and then rates it as though it is a first rate economy other than the complete house of cards it actually is.

How can you give a ten in industry to a country that doesn’t care about its workers or the environment, and primarily got to where it is by intellectual property theft? How can you give a near perfect score after spending the entire video showing economic problems of titanic size? Very lopsided analysis.

What now for China? Why are they locking down cities time and time again?..More about shutting their accounts down I think.

IMO: The metric that shows the real productivity of an economy is the percentage of the GDP that is delivered to the bottom 50%.

As it should be, tax burden should only be on the wealthy not the low income.

@@inkbold8511 except the wealthy always get away with it.

With many state own industries and joint ventures, I don't think personally income tax is really nessesary for their government budget. They were doing alright before implementing personal income tax. I assume they can continue to make it work without personal income tax.

@@inkbold8511 I won't say tax only the wealthy, but definitely we shouldn't make people's lives harder if they are already barely making it. I do think the wealthy probably benefits the most from public spending such as roads, public education (for workers), and other infrastructure.

Taxation is legalized theft.

@@JanBruunAndersen pretty much. It sounds kinda cliche though. The important thing is that it is supposed to pay for things that an individual can't pay for, like a road or bridge. It's possible to just print money to pay for everything instead, but the free market would mess that up pretty quick. The real crime is actually how they structured the debt/financing. The private sector owns most of the government debt, so basically this taxation or "legalized theft" is actually profits going to the private sector. The government is just tax collector for the rich.

educated comment.

@Mekehl it's even worse than counterproductive. When the government cuts taxes and increases spending (Ronald Reagan), they finance it through the private sector, so not only is the private sector being paid by the government contracts from the increase in spending, they are also loaning the money to the government to finance the spending. So they're loaning to the government with interest, so that the government can buy their stuff at profit. It's such a scam. (Military industrial complex) They basically deliberately keep the government in debt because this is how the rich collect money from everyone: by financing the government.

@@grantmccoy6739 Tax collectors for those who own government debt, like WWII-era Liberty Bonds. The Senator in “Captain America: The First Avenger” was not wrong when he had Rogers fronting bond drive shows to pay for the war.

1.44B people economy wont go anywhere soon. Even CUBA with negative economic growth is still around

chinas median age is around 38.4 years. thats way lower than west europe. france, one country with a higher birth rate is around 42 years and germany even 45.7

@@paullnetinstitute4799 Sure, but China is also one of if not the fastest aging country. They're in for a rough ride.

@@egegeggegeeg4789 germany is starting to feel its old age too. frances birth rate jumped up within 10-20 years if i remember correctly

From what I understand, it's dipping into the same "product" such as land value/sales at multiple times in an economic circuit. If at any point the value of the land drops or if the debt built on it becomes too much, the whole thing implodes. Reminds me of the game using marbles and a wet paper towel...keep going until the towel can't hold the marbles anymore. Final player is left holding the bag.

I run an extremely small business in China and know quite a few others who do also. Our biggest headache is hiring and retaining staff. It's an absolute nightmare that never ends. Either they're incompetent and unreliable or barely competent and unreliable. The moment you think an employee is loyal or with you long-term, they're gone. This seems to have little correlation to salary. Chinese just seem to have a different set of values in this aspect of life as in most others. They'd rather work for a huge corporation at a much lower wage then a smaller company. Very few entertain the thought that they can work long term for a smaller company and become a partner or learn about a particular business and open their own later. Most would rather be an anonymous cog in the machine who spends every waking minute trying to dodge responsibility and decisions.

@J. Joseph why don't u just double or Triple the wage? If you think your employee isn't loyal then you just aren't paying enough to get them to be loyal to you.

@@inkbold8511 I see you don't own a business. Thank you for your insight.

Huge corporations are more likely to have political connections. They are the ones that get bailed out. Perhaps Chinese employees consider that a safety for their job.

@@j.joseph5353 I agree with Ink that you are just not paying them enough. (I don't own a business.) As a worker, i will take any job if they cam make me an offer I can't refuse. I think most competent workers will seek out larger companies since there are more opportunities for advancement. There is a clear limit on how much you can earn working for a smaller firm. Where in larger firms the annual budget of one department might already surpassed the gross income of a smaller firm.

But a "zero covid" policy does.

Also the age demographics.

To expand a little on the 'age demographics', the largest generation in China is entering into retirement now and in the coming decade or two. Meanwhile, the one child policy has decimated birth rates meaning the working age population is shrinking and the birth rate is miniscule. Because there are now more elderly dependents per working age adult, and because the pension system is not developed in China, the relatively few working age adults have to work even harder to earn a living and support the older generation. What do you not have time or disposable income to do if you're working hard and looking after elderly relatives? Have children of your own. So there's a downward demographic spiral which some other countries have experienced but nowhere near to this extent because most other countries aren't insane enough to have a one-child policy.

@@anglaismoyen the US's age pyramid is fking wack if you take out immigrant population, and its replacement birth rate is just as bad as european nations, so one could argue that US was looking like the beginning of the end there back in Trump days for a data scientist like myself, yet no one seems to notice. And I hear a certain someone someone might be running again in the coming election

Well... Reverse time to 30 years ago and you can see it is possible to convince 1 billion people to stop what they are doing...

That's just land value tax, the fairest tax.

Georgism.

Lol!!I've known for a long time that China would collapse because of tax issues! We India will rise as the king of the world! !😏😏