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by trasirinc 297 days ago
That's assuming they can keep pumping massive capital into every industry that it seeks to circumvent from bans and sanctions. But it appears they have very short runway these days. Just months after the initial tariffs/sanctions from US, Chinese government is enacting multiple tax raising schemes in September to try to stay alive. The first is the mandating that workers and employees cannot opt out of social security contributions. which is around 1500 yuan ($200) per month for one worker. for an average worker that makes 4000 ($600) yuan, it makes no sense. So many companies are deciding to layoff or close up in September. And workers are going back to countryside. The second is the landlord tax that is starting on September 15th. This is due to people not buying real estates anymore and renting instead.
1 comments

Are you a local? What city?
Langley