Wednesday, January 22, 2014

China's Offshored Wealth

There is only one story you should be reading today: This ICIJ account of China's offshored wealth. Much too long and no point in excerpting here. Over 10,000 Taiwanese names in the ICIJ's records as well, and they worked with Commonwealth Magazine. Can't wait to see Commonwealth's report on it. They have a survey on Taiwan's widening rich-poor gap here.
Don't miss the comments below! And check out my blog and its sidebars for events, links to previous posts and picture posts, and scores of links to other Taiwan blogs and forums!


Anonymous said...

Wonder who the Taiwan perps or peeps are gonna be named in Apple Daily soon? MORE backstory here:

On Thursday, the International Consortium of Investigative Journalists
released the names of more than 37,000 people from China, ***Taiwan****
and Hong Kong who use offshore networks to stash their wealth, Marina
Walker Guevara said.

Anonymous said...

I mean, in Taiwan, there's no capital gains taxes anyways, so there's not really a reason to hide.

For Chinese nationals, the issue is both taxes and a lot of the money is illicit or otherwise unseemly.

Anonymous said...

Answer to that question has to be that there is something to hide, or it wouldn't be hidden. I'd expect them to uncover all sorts of ill-gotten gains from kickbacks, money skimmed from public works projects etc. Well actually I don't expect to see anything uncovered really. Unless the guilty are in the green camp the local media won't cover this kind of story. The loyal and well-trained local media doesn't even need to be asked, let alone threatened, to keep this stuff quiet. Lafayette 'scandal' anyone?

yankdownunder said...

Chinese Homebuyers Thronging Sydney Create Mini-Bubble Frenzy

Tina Ford, an Australian public servant, said she could hardly believe it when her three-bedroom apartment sold this month for A$1 million ($877,000) at an auction in which all 16 registered bidders were ethnic Chinese.

Australia is becoming another province of China.