China and Socialism
Compare China's Goverment to the U.S. Goverment
Regulations of China
- The registration of technology licenses are either prohibited or restricted by law.
- Visas are being delayed, denied or restricted.
- The income rate for both foreign and domestic enterprises are 25%; small companies pay 20%.
- Non-tax resident companies pay 10%.
- China is a socialist country, and it has limited government, but their government has more power then our government does.
Regulations of the U.S.
- The U.S. has limited government, and it is a capitalist country.
- The U.S. is mostly free, while China is mostly not free.
- Our tax revenue is equal to 24.3% of GDP (Gross Domestic Product)
- Our corporate tax rate is very high, almost the highest in the world at 35%.
- We have tariffs, but the tax rate for that is only 1.5%.
- There are more job opportunities here then there are in China, because a lot of their factories keep shutting down.
Currently in the U.S., we are about to go through a presidential election, but the results won't be for another 4 months in January. This does not always majorly effect the economy status of our country. We have no massive storms that are planned to come through at any time soon, and we still have troops stationed in Afghanistan that might effect how we run things.
In China, they are also not going through any government changes, and they don't have any massive storms destroying the country right now. They are currently not at war with any other country, but they have one of the largest economies in the world.