1) The Chinese think its ok to break any rule as long as you don’t get caught. 2) Tariffs could be risen to get rid of the income tax. Keep sin taxes though I’d give tobacco a big break.
“1) The Chinese think its ok to break any rule as long as you don’t get caught.”
Sounds like New Jersey.
Unfortunately, not enough to tariff to eliminate the income tax for personal but we could for businesses in the US, which would greatly pump up domestic production and boost 401ks/pensions. ($2.5T in imports x 20% = $500b, although imports would drop so maybe $350b)
The believe that they are the center of the world (Middle Kingdom).