With the push and shove getting serious in the South China sea will China start to get serious?
If they raise property taxes within China they can fund those impoverished and not earning a lot subsidising the labour costs into the production of goods for export while also reducing capital expenses on property purchases as property reduces with the higher tax burden .
More resources goes into production and innovation making China and its people stronger so China can export to the world ignoring USA.
If USA adjusts and raises property taxes in USA it means more funds for the poor increasing the capacity of those in USA to spend on Chinese goods.
Theoretically China has nothing to lose and everything to gain. Would China be bold enough to orgainse a hit on Jamie Dimon or Lloyd Blankfein??
The other thing is raising property taxes reduces funds escaping Chinas grasp by transfering it offshore as the wealthy has less opportunity to transfer more and would have to pay comparatively higher prices on overseas assets no matter how speculative
