In the last few years, globalization has come under renewed attack. Some of the criticisms may be misplaced, but one is spot on: globalization has enabled large multinationals, like Apple, Google, and Starbucks, to avoid paying tax
We have entered the new era of absolute exchange of information between the tax authorities of different countries. In addition, soon certain information about taxpayers will be available in the public registry
After a long period of investment-driven growth, China is finally changing its policy playbook. Having recognized the costs of relying on excessive credit growth in the medium term, now it is emphasizing tax cuts, further market opening, and incentives to boost consumption over investment. This means accepting lower growth rates in the future.
Watching a sophisticated democratic society knowingly walk into a predictable and avoidable national disaster is a rare and alarming experience. Most British politicians are well aware that leaving the European Union with no agreement on the post-Brexit relationship will cause enormous damage to their country. They are not sleepwalking into the abyss; their eyes are wide open
In October 2017, at the 19th National Congress of the Communist Party of China, the CPC enshrined in its constitution a new political doctrine: “Xi Jinping Thought on Socialism with Chinese Characteristics in a New Era.” At a time when a rapidly modernizing China is a leading global player, it is tempting to dismiss this doctrine as anachronistic “party-speak” from a bygone age. We succumb to that temptation at our peril