China wants to implement a U.S.-style property tax to prevent a housing bubble, they say. Because we all know how well it worked to prevent the government and Fed created housing bubble in the U.S.
As Jeffrey Tucker puts it:
What will these commies think of next? U.S.-style regulation on toilet-tank size? U.S-style limits on using cash? U.S.-style bailouts of failing industries?
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[...] China considering becoming as socialist as the U.S. [...]