An extra 10 percent consumption tax will be imposed on “super luxury” vehicles to be sold in China, said the Chinese Ministry of Finance. Buyers of automobiles costing more than 1.3 million RMB ($188,852) will be hit with the tax starting Dec. 1. Source: People’s Daily
GEFIRA provides in-depth and comprehensive analysis of and valuable insight into current events that investors, financial planners and politicians need to know to anticipate the world of tomorrow; it is intended for professional and non-professional readers.
Yearly subscription: 10 issues for 240€
The Gefira bulletin is available in ENGLISH, GERMAN and SPANISH.
Speaking in an interview in the February issue of “Gold Investor” — a magazine issued by the World Gold Council, Greenspan argued that imbalances in the economic strength of eurozone nations make the continued function of the single currency area a major concern. Source: Business Insider
Germany wants China to create a fairer business environment for foreign companies, especially German carmakers seeking to tap into Beijing’s drive for greener cars. German companies have long complained of obstacles to investment and acquiring local firms in China. Source: Reuters
Household debt in the U.S. totals a staggering $12.58 trillion, a level not seen since 2008, according to the New York Federal Reserve’s quarterly report released Thursday. The figure represents a $226 billion increase in household debt for the fourth quarter, the largest quarterly increase since 2013. Source: CNBC