Roger L. Simon

China's recovery - is it real and what does it mean?

I don’t know the answer to either of these questions, but according to reports, the Chinese economy is on the upsurge and this recovery is having a positive effect on markets today.

Now… there’s something else I didn’t know until today (I learned it listening to a talk radio show on the way into work and checked it on Wikipedia): The Chinese have no capital gains tax. Is this an important cause of their putative recovery? Don’t know, but I’d sure consider it. During the campaign, among his many other assertions, Obama seemed to be calling for an increase in capital games. He also appeared to be unaware of correlations between lower capital gains and successful economies. Of course, the media was too busy telling us what an economic idiot McCain was to pay much attention to this important moment. Now, we learn, some of them are experiencing regret. So it goes.