The contract is too beautiful, in the Wall Street called unprecedented. In this swap transaction, the royal family in a decade to “legitimate” tax evasion and fifty million U.S. dollars, and we will pocket ten million dollars. Because the return on equity swaps are not securities, and not subject to any regulation, do not disclose to anyone, including the Inland Revenue Department. Strictly speaking, the deal is indeed legal. Surprisingly, this philanthropist huge tax savings, but also will put her charity fund. This makes me confused, since the preparation to donate, why should tax evasion it?

Do not like “to be” tax

By Warren Buffett, Bill Gates set up charitable funds case, I finally understood, in fact, European and American rich people to donate one of the main wealth, and we the general public, is not like “was” to pay tax . Buffett himself has said he paid every year to the government’s personal income tax (Income tax) is even less than his secretary.

Now, 30 years of reform as well as private launches deolhwadoen opportunity to achieve a breakthrough, the whole, the reform of the system increased, but more involved in economic reform and political systems, lack of skills in civil, not move the government to rely on public relations can. However, the government established a system change in profits will crash, the depth of the government economic and market participation was involved. The government needs to reform the economy, and how interested you? Stuck on the card here, the interests of relevant government make life difficult.

Xiaonian is: traditional growth model, growth model, investment-led government would not become the dominant non-solid institutional foundation, the current economic and political system is still. Development mode to change, economic and political system and promote real reform must be a breakthrough.

In recent years, reform, or even reversed, under the banner of reform, expansion and consolidation of the interests of government departments because of delays where? We are caught in the dilemma of reform – reform the government reform but also touched the interests of the government is required. This problem lies.

“Korea Wind” is: China is using the Keynesian rescue plan, which compared with the other is the difference between a free economy? What is the difference between the effects of?

Xiaonian is: What to obtain City Oh? West, house fire, the government depended on the fire can burn down a building. You relax at our house did not catch fire, the financial system is basically sound, and about the risk of system crashes? You Americans desperately splashing water all over the place, you learn that the fire spread evolutionary agent? The problem of structural imbalances in our economy, monetary policy is fiscal stimulus can not cure the disease structure, Keynes used in China is somehow inappropriate.

“Korea Wind”: Keynes is to solve the problem, why that moment is still very popular, then?

Xiaonian that: the current situation and the 20 to 30 years of the last century “Great Depression” of the very first “Great Depression” and similar people are in panic, the Wall Street crash, and you can save the situation and are looking for just the government. A mental and Western intellectuals today, it’s the same problem, but the market itself, government intervention is required. While some people in despair, hope and a role model to the Soviet Union, under the Soviet economic planning system “is to avoid the Great Depression.” Some people are better, go ahead and study the propagation of Nazi Germany, the totalitarian government of the German economy recovered quickly because of the strong intervention. In response to this trend, Hayek is “to serfdom,” as he, for immediate emergency alerts and a market economy in the world and abandon the principles of the road wrote the risk. German intellectuals of the upcoming Western countries and how to actually do, they found that Hayek was right, unconstrained by a strong government of war and slavery, but harm the government’s strong contribution to the Keynesian sense.

Xiaonian: I am interested in the hot issues, such discussions are not trivial. Keynes and the academic debate in the future these days, because they live, to work and regarded people’s economic, rice and analysis of the economic situation of eating a bowl mix, staff, and financial policies, fiscal policies, such as steps by the government in ia how it works, but these are the Chinese and world economies is the key.

The U.S. government engaged in economic stimulus, how, now this? The second is as follows. U.S. new home prices since the start now the second floor, second bottom, and unemployment is endemic. Patients while they are solving the fundamental problem that Obama took the so-called Keynesian stimulus, it acts as a stimulant, stronger than any drug, is the second floor is unavoidable. Keynesianism a stop gap measure, heat, low temperature, cold water, sauna kkieondadoemyeon not ask what the body of the lesion, quacks like a.

Lack of property stock: Suning Universal

The highest market value (million): 243.65

Points lower value (million): 127.70

ZHANG 92 – Ping family’s equity ratio: 60.91%

Reduce negative value (10,000): 70.63

Environmental and economic impact of real estate capital markets by the policy change, big block adjustment, the company’s stock price fell sharply.

Lu Zhiqiang

Lack of property stock: Asia Standard Construction

The highest market value (million): 326.53

Points lower value (million): 181.38

Lu Zhiqiang stake: 47.42%

Reduce the value of the property (in millions): 68.82

Store, in the first half net profit fell 33 percent to stimulate anger.

Lack of property stock: Country Garden

The highest market value (million): 445.81

Points lower value (million): 293.79

Yang Yan stake: 59.33%

Reduce the value of the property (in millions): 90.19

Away from the coaching change, the industry’s new president, “a vision of power and deception” that led to the implementation of pessimistic hope.

Chen Zhuolin family

Lack of property stock: Agile Property

The highest market value (million): 359.28

Points lower value (million): 227.06

Chen Zhuolin family’s equity ratio: 62.32%

Reduce the value of the property (in millions): 82.40

The result is lower than market expectations, the market bubble in Hainan.

Significant impact on property developers can expand their high debt. For example, the central corporate real estate real estate sales in 2008, the situation is in poor condition, the company expanded into 12 new projects and continue to 5,940,000 m2 of land holdings added. This extension of the instruments of the company’s stock soared 40.1 billion from 28 billion yuan, increased by more than 40%. Inventory Consequently, special situations, capital chain rupture is likely to lead significantly increased the rise. Expand the current high debt reporters observing the symptoms of being repeated, some medium-sized developers, but billions of cash in hand, the king of big developers only, and around 1 billion in cash on hand, again, one of hundreds of financial reproduce You can imagine the cracks.

In fact, the developers, but also filled with memories of the 2008 winter, I remember. Sales and marketing in both the first half of 2008, China Hengda Real boss Xu Hengda facing each other about life and death among the best in other cases, printed, and last March, Hengda Real Estate went to IPO in Hong Kong, fails, then in October, the financial tsunami, the climax of the Hengda many different incentives in order to sell real estate, Hong Kong tycoon Cheng Yu – hardly a big straw tungui receiving a cocktail of words to ensure cash flow, Cheng Yu – who is Tung Xu half jokingly half seriously, to leave India for their shares, please. Hengda Real Estate to increase their investment in time, Cheng Yu – Tung, Deutsche Bank and Merrill Lynch, Hengda Real Estate so much actively to raise the necessary funds to participate.