Cutting 1 Trillion Yuan in Taxes
The year 2012 is the most important test for China in two decades. The growth downturn is not just a correction or even a cyclical downturn. It is the end to a two-decade-long, invest-and-export growth model. Shifting to a new growth model requires painful reforms. If China refuses to change, it could experience a lost decade.
China's economic slowdown is a good thing in the short term. It decreases waste, and with a shortage of blue collar labor, it carries low political risk.
- WeChat 'Glitch' Allows Family to Raise over 2 Million Yuan in 80 Minutes
- China's VAT Rebate Reform Aims to Boost Local Government Fiscal Strength
- Share Splits Raise Stock Market Suspicions
- China Faces Severe Coal Transport Capacity Shortage
- Audi Scraps Plans for New China Dealer Network
- Regions Found to Have 'Critical' Heavy Metal Emissions Now Clean Up Act
- Official PMI Spikes as Producer Prices Rise, Exports Surge
- China Adds 10% Consumption Tax for Superluxury Cars
- News Calendar, December 5-11
- Caixin's Manufacturing Indicator Dips to 50.9 in November
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