China Catastrophic Tax Crisis, CCP Running Out of Money, Collapse Coming?

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[BusinessBasicsYT]

Back to our regular documentaries. Be sure to the hit the like button. These long documentaries take weeks to make

[robertfraser]

The biggest problem for change to happen is that the CCP would have to admit that something went wrong, and they are deathly allergic to looking weak for even a second. China is going to have very interesting times ahead.

[christianheichel]

For a country that practically and almost literally records every aspect of their lives inside and outside of the home they sure do a crappy job of keeping track of where these people are at so they can get the money from them.

[JustaGuy_Gaming]

I always figured this would happen tbh. China got it's insane wealth by being the production hub of the world. But as it's citizens grew in industrial skill and might, people started to demand a higher comfort of living. To the point there was little difference between china and the countries they sold their products to. No one wanted to do the low level factory work for little pay that made them so dominate in the first place. Too many Chinese citizens got college degree's and the like.

[shaunrosenberg]

A lot of economists believe China's GDP is overstated. One study using night lights estimated that China's GDP could be overstated by as much as 60%. If we assume that this is closer to reality all of a sudden China's low tax collection compared to it's GDP makes a whole lot more sense.

Every country has tax incentives and every country has a large group of people who aren't paying taxes.

[Zebadee]

My experience of taxes in China was an overly-complicated analogue system, specific only to the city where one resides, and not a single, national-based, linked system. The tax app on my mobile phone never worked and required several visits to the local tax office to declare payments. Also, there are several million Chinese people who don't have a 'hukou' - a national system of citizen registration - so these people don't officially exist and, probably, don't pay tax.

[TheAsiandramafreak]

You are not mainstream, but your videos are always good and you always make a compelling case. You make your audiences think and does not dumb down your contents. Much appreciated! Keep up the good work. I’ve been liking and sharing!

[chenango]

Love your channel, man! I hope youtube stops with their demonitization of the truth.

[hqoujen]

I’ve been following this for quite some time and I was aware of most of it. But I want to congratulate you on such a clear and concise presentation of a very complex problem. Thank you for your hard work.

[cesarordaz]

I love the background soundtrack! Not a lot of channels understand how important soundtracks are to conveying a story.

[Addictedtocollecting]

Love the comprehensive work on the is channel!!

[EndTikTokandTwitter]

I dated a Chinese girl once and when I had to do my taxes she literally had no idea what I was talking about and basically explained that her taxes were filled almost fully automatically

[Mark-impm]

Great video; well structured; informative; and worth the time because you taught me well.

[lostlogic]

It took them 50 years to rise from poverty, yet it took just 10 years to go back to the poverty level.

[jeffreykoch]

I love your videos. Makes us think about things that arent talked about but needs to be. I come to you for fair and accurate reporting and you deliver everytime. Keep up the good work and dont let the algorithm keep you down.

[puliyogre]

It's been a while since you've made a video that doesn't break news. This stuff gives me new insights I haven't found anywhere else. I like this video.

[Krhys]

Same thing happened in Zimbabwe whens its economy started to collapse in the early 2000s. In addition to no one paying taxes, the government owned all the means of production, such as electricity generation, grain and diary distribution, water supply so when people stopped paying for those as well, the country was doomed. It got to the stage where any money 'earned' by the government, went straight to the pockets of government officials. Then China came in to 'help out' and the country fell into the Chinese debt trap while the government officials continued to enjoy all the benefits of that sweet Yuan.

[joseperalta]

Haven't even finished, and can already tell will be a banger as usual

[arcataslacker]

You and your team have been absolutely cranking them out lately, and the quality has to spend top notch the entire time. I know it's not sustainable but I have very much enjoyed it

[karlkroenen]

Business Basics, your a savage on the speed you are pumping out these top knotch videos, keep up the great work.