Friday, January 14, 2005


To Get Rich Is Glorious

China is making a lot more money:

China's top tax official said Tuesday that China's total tax revenue hit 2.57 trillion yuan (US$313 billion) in 2004, up 25.7 percent on a yearly basis.
For comparison, US tax Revenue in the same period was approx US$1,798,093, or roughly 6 times as much.

But China is catching up at the moment. A currency revaluation (which, I've noted before, will be more gradual and less pronounced than expected) will change the figures even a little more in China's favor.