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China fiscal policy revamp faces hurdles / Iacob Koch-Weser.
- Format:
- Book
- Government document
- Author/Creator:
- Koch-Weser, Iacob, author.
- Series:
- Issue brief (U.S.-China Economic and Security Review Commission) ; no. 6.
- USCC economic issue brief ; no. 6
- Language:
- English
- Subjects (All):
- China--Economic policy.
- China.
- China--Economic conditions.
- Infrastructure (Economics)--China.
- Infrastructure (Economics).
- Mixed economy--China.
- Mixed economy.
- China--Politics and government.
- Economic history.
- Economic policy.
- Politics and government.
- Physical Description:
- 1 online resource (26 pages) : color illustrations.
- Place of Publication:
- [Washington, D.C.] : U.S.-China Economic and Security Review Commission, 2014.
- Summary:
- This issue brief argues that, slowly but surely, China is adopting a new fiscal paradigm. President Xi seeks to "kill two birds with one stone," fixing the fiscal system as a means to rebalance the economy. Even as China maintains a "state-capitalist" system, it is keen to tax and spend as progressively as a wealthy market economy. However, technical barriers and conflicts of interest are likely to delay and dilute fiscal reform. Coal and property taxes could destabilize the economy. Powerful SOEs oppose corporate tax reforms in strategic sectors, and ordinary households complain their tax burden is heavy enough as it is. Beijing also faces a delicate balancing act between devolving budgetary authority to local officials, and exerting sufficient control to prevent waste and mismanagement.
- Notes:
- "September 30, 2014."
- Includes bibliographical references (pages 22-26).
- Description based on online resource, PDF version; title from caption (USSC, viewed Nov. 22, 2021).
- OCLC:
- 933561480
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