China announced that it would slash corporate taxes two times this year to jumpstart its weak growth.  It comes as President Trump announced his plan to cut corporate taxes in the U.S. from 35% to 15% over the course of his term, driving the stock market to soar to new heights. Hmmm – seems that tax cuts really do have an effect on improving economic growth, contrary to the canards peddled by the Obama administration over the past eight years, at last in the eyes of the Chinese. The Chinese, after all, are a lot of things, but one thing they aren't is stupid.  With their move following Trump's, what we are seeing is quite possibly a sort of contagion of free-market ideas spreading throughout the world, with China following the Trump example.  Nobody wants the U.S.to get all the stock market gains, new jobs, new tech and rising incomes all to itself.  Nations want a little of that for their people, too, sometimes just to keep the coups...(Read Full Post)