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July 30, 2007
China's official statistics are well known to be woeful...John Ganaut reports on how the wealthy (unsurprisingly) hide much of their income and wealth:
PROFESSOR Wang Xiaolu sparked an online uproar two months ago by publishing the results of his "grey economy" study in China's leading business magazine, Caijing.More below the jump...
It probably helps that Wang's National Economic Research Institute is not beholden to its benefactors. "We receive no money from the Government, so I am free to say what I like," Wang says.posted by Simon on 07.30.07 at 01:21 PM in the China economy category.
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It is said that Chinese is one of those most difficult languages to learn all over the world. I dont know whether or not it is right but i do believe that 'cause I can speak english (or chinglish) and a little Japanese. What I want to say is learning languages is always not interesting as you just began when you step into a higher level. Just endure it. Good luck.
( http://www.chinese-tools.com/learn/chinese )posted by: Chinese on 07.31.07 at 06:00 PM [permalink]
The previous comment seems to be SPAM, isn't it? :)
Hello! great idea of color of this siyte!posted by: Vilyamum on 08.02.07 at 01:35 PM [permalink]
@Cattlu : The first comment is very likely spam good catch.
I'd say the main reason people are hiding money is exactly as Cattlu said. Who wants to pay taxes?! However taxes aren't paid because of laziness in relation to filing taxes. In fact quite often those hiding taxes need to pay for good accountants to hide this incoming money so they don't get caught.
On a side note I think people tend to forget that China has a history of corruption that dates back millennia. GuanXi has always been a large factor in business here, and likely will in the future.posted by: John on 08.06.07 at 04:32 PM [permalink]
posted by: 流水线 on 08.12.07 at 11:59 AM [permalink]
This is "hiding of income issue" is no biggie. It happens everywhere around the world. Even your own countries President might be stashing away as we speak.posted by: CallCenterVet on 08.15.07 at 02:52 PM [permalink]
Like callcentervet said, it is there in every country. Recently, I happened to see one Indian movie, where the hero rob the black money from businessman's and politicians and spend it for good causes. The estimation of the black money is huge in countries like China, India, etc.,
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