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>>Competitors from other countries. And China has another huge advantage: NO income taxes. This means they can pay much lower wages. This advantage becomes m
by pascalxus 9y ago
>>Competitors from other countries.
And China has another huge advantage: NO income taxes. This means they can pay much lower wages. This advantage becomes multiplicative because those companies and employees can then buy from others in their country who don't pay income taxes either, so every dollar spent goes further, at least in their country.
- cleansy 9y agoDo you have a source for no income taxes? The sources I found state clearly that they have one. [1] [1]: https://www.ecovis.com/focus-china/individual-income-tax-iit-china-ground-rules/ https://www.ecovis.com/focus-china/individual-income-tax-iit...
- pascalxus 9y agoMy wife lived in China all her life and worked there for many years. She's never heard of an income tax there. she worked at big companies like Nike and big advertising companies. They do have some huge Sales taxes on luxury goods, sometimes 100% to 200% of the value of the good: especially luxury cars.