China aims to "restructure economy"

[TLB]

Hi folks,

 

Saw this today; no idea what it might mean specifically, but I expect it will mean something! Talk of addressing income gap (especially for those not living in the big cities) and housing situation.

 

"In the keynote speech, Mr Wen reviewed the government's work over the past 12 months and set out its policy goals for the coming year."

 

"[We will] resolutely reverse the widening income gap"

 

"Many people across China are currently concerned about rising house prices that mean many cannot afford a home.

Mr Wen said China would do something about it."

 

http://news.bbc.co.uk/2/hi/asia-pacific/8550930.stm

 

Tim

[Tony_onrock]

stupid politicians are the same every where. actually, they are not supid, they are simply freaking liars. here is what it means: higer taxes for the rich, tax break for the poor and a property tax to ensure that the poor will soon find themselves too poor even to rent, let alone, buy an apartment. The poor will also soon find out that raising the tax exemption amount from 1500 RMB per month to 5000 per month (or even 3000 per month) makes no difference to them and the rich would find out that you can raise the taxes like in the USA but it would have nothing to do with them. The rich don't pay no taxes like the poor! The middle class would find that the will have to bear the taxes that is needed for the, well, I don't know. Sounds familiar?