Umm,
Hands up everyone who wants to pay more tax?
I feel this scandal is misleading. Have a look at the table of per head income by country in this Wikipedia article. As a measure of relative wealth across the world corrected to US dollars, it's quite interesting.
China is Number 42 in terms of individual wealth: Median Wealth per adult $16,333, Mean Wealth $47,810
Number 2 in the list of rich bastards is Australia. Median Wealth $191453, Mean Wealth $411060 per year. UK is number 11 – this is a good place to live.
A median (ie in the middle) Australian adult is nearly 12 times richer than his Chinese counterpart. The average Australian is 8.5 times richer.
Interestingly the median Brit is better off than the median American at $97,188 vs $61,667. How can this possibly be if the USA is the richest country in the world? (It is.) Two reasons:
- wealth in the USA is not shared as equally across the population as in many other parts of the world. Better be rich than poor in the USA.
- There are a lot more Americans than Brits.
The size of the population matters in terms of national wealth, but not to the individual. So Iceland is simultaneously stinking rich and an economic lightweight. In the opposite sense, China is both poor at the personal level and an economic heavyweight. Personally, I like being comfortable in the UK. Being a super-power isn't all roses!
International postage rates don't mean much. By international agreement the IPU is tuned to encourage economic growth. Guess what happens when China reaches 'developed' status? They pay the same rates as the US.
In a sense encouraging growth abroad is unfair, but does it work? Economists argue that overall the West gains by buying cheap foreign manufactured goods because it releases labour and money into higher value local enterprises. It does, but it's not painless. No consolation to previously very highly paid car workers in Detroit who find themselves having to abandon their homes and start again at the bottom. Capitalism is great when it's working well, but it can be rough on innocent bystanders when it rebalances. Opposite problem with Communism.
Dave
Edited By SillyOldDuffer on 10/01/2019 13:47:02