In your interest.
Online Personal Finance Magazine
No beating about the bush.
Billionaire investor George Soros says a hard landing for Chinese markets could come, due to a significant increase in supply offset by falling demand, but regulatory authorities have managed the situation well thus far. Soros says lending by Chinese government-owned banks was indeed excessive, but that regulatory decisions to adjust reserve ratio requirements were appropriate.
Here are some financial facts about China:
• No capital gains tax
• No property tax
• No local or state taxes
• A reasonable 35% tax rate for the highest earners
• Corporate tax rates of zero percent for 3 years and 15% per year after that.
So, is China, for all its flaws, more capitalist than the United States now?
In an explosive new book, Bernie Madoff whistleblower Harry Markopolos tells the inside story of how he uncovered the $65 billion fraud, claims that he exposed State Street's alleged fraud of pension funds and admits that he considered the idea of killing Madoff if he was ever threatened by the Ponzi schemer.The mild-mannered fraud investigator's new book, ‘No One Would Listen’, is set for release next week. Among the revelations in the book, he writes that the Madoff case is just the tip of the iceberg of his multiple probes of financial shenanigans.