@Porter

comparison wise the example of the average person trying to broker a deal with a businessman does not compute bearing in mind that the GOVERNMENT is the landlord and the business person is the occupant it is incumbent that the landlord sets rules and standards by which the occupant can if they choose to abide. Yes i will agreed that some of the laws might be a bit harsh for these business people to abide but under democracy these business people have the right to set prices in a competitive market to cover some of the cost which most of them do .Places like CHINA where these people go are markets wher the govt give these business people free reign and exploitation of their workers another sore point for these big companies who after raking up a substantial amount of profits couldn’t care less about what the employee fair share. going to china was not only about govt policies but also about employees and a fair living wage.china is the ideal market for these corporate gluttons who does not give too hoots about nobody but themselves.

Yes but as politics goes can.t blame it all on government big business and its lobbies played as much a part in guaranteeing that some of the violations would be overlooked in an attempt to get free and easy acess to the market and slave labourwithout them having to be burden with excessive cost in finding remedies for chinas social problems as far as big businees was concerned those issues would have to be dealtby the various govt agencies and international buereaucratics

@ money brain

i agree! however as a person who has been around for a long time that is not the reality. the first and foremost interest of the elected is to be re elected and as that cost plenty money and at the same time the ones with the money are the corporate giants even though the majority has the power of the vote the fact is that whoever the poor elects the one chosen still has to to deal with big business and there is wher it gets tricky as big business are the ones who drives the economy, and that is enough power to stop the elected dead in there tracks for as much as they had promised the poor now the reality is that the have to speak and respect the wishes of the big corporations who they will need next time around but then one might say what about the poor they have the power of the vote but is that enough! just look at “occupy Wall street” they were justified in speaking out about the greed in corporate america but who the hell in government or even the media care but are they going to vote next time around “hell yes” as we say ‘the lesser of the two evils” andcorporate greed will continue as the politician needs them more than the poor .

how about china well i am of the opinion that america needed china in more ways than one first it wanted to find a quick fix to the money they owed them and second with big business looking for more tax breaks it would free up americas hand in the area of corporate welfare by sending these jobs to china and giving the government breathing room to save more but what about the unemployment rate that would follow america figures that over a period of time new and more established business would start which would eventually gobbled up some of the unemployment as beginning to happen now, to make a long story short america was able to kill two birds with one stone knowing full well what would be the fall out by taking the risk that government knew it would save millions of dollars incorporate welfare and letting coporate america invade china was the only way to go was and under neath it all americawas able to garner a friend in china for the time being and as for corporate america they are similing and singing the praises of china all the way to the bank and as for the consumer they are left holding the bag with cheap junk and products that dont worth a dime.

There is a most disturbing story in this week’s Business authority (Monday, June 18, 2012 – page 3 to be exact) which deals with the Foreign Account Tax Compliance Act (FATCA) of the US government.

Whilst this newspaper has on a few times before put out some stories on this said subject, the tone of this particular story suggests that this said Act will definitely be enforced.

But, without the knowledge that its regulations will come into force, the purveyors of this particular story, the Caribbean Media Corportation, and the publishers of it, this said tax agreeable Barbados Business Authority, have instead sought to act as virtual mouthpieces of the framers of this stupid ignoble Act and the US Congressional authority within which it was disposed.

However, a serious reading of this Act will show that this Act, more than the fact that it is almost unimplementable, seeks to trample on the sovereignty of many other countries, and esp that of developing countries.

This Act must be disregarded by other countries, as a most wicked imperialist device which has no place in this modern era of nation-states having the rights to self determination and to determine their own laws and regulations.

So rather than the CMC writing a better and more balanced story and the BBA publishing that horrible CMC pap to put fear into some Barbadians hearts, they should have een agitating for the Act’s repeal or its abandonment by US authorities.

What brainless capitulations to foreign forces which believe that might is right!!!!

What is worse is that this Act definitely shows that America is on the decline financially. America is attempting to again overreach ( the relevant US authorities have seemingly forgotten the lessons of its overreaching before esp. recently ) by hitting out politically imperialistically to salvage its declining political economic dominance in a world where the balance of power is shifting from West to East.

And so rather than simply reproducing some of the essence of this Act, the CMC and the BBA should have been seriously researching these global developmenis and letting the Barbadian and regional publics know that this is the case, and thus be preparing them for emergence of another global political economic behemoth.

For a better understanding of the FATCA and its content, what others ought do is to over to Wikipedia.org, and see what efforts are being done by many other people to address this monumental stupidity.

The Foreign Account Tax Compliance Act (FATCA), Subtitle A of Title V of the Hiring Incentives to Restore Employment Act (HIRE), enacts Chapter 4 of, and makes other modifications to, the Internal Revenue Code of 1986, the tax law of the United States.

FATCA has several main parts:
1.It requires foreign banks to find any American account holders and disclose their balances, receipts, and withdrawals to the US Internal Revenue Service (IRS), or be subject to a 30% withholding tax on income from US financial assets held by the banks.[1]
2.Owners of these foreign-held assets must report them on a new Form 8938 along with US tax returns if they are worth more than US$50,000; a higher reporting threshold applies to overseas residents.[2] Account holders would be subject to a 40% penalty on understatements of income in an undisclosed foreign financial asset.[1]
3.It closes a tax loophole that investors had used to avoid paying any taxes on dividends by converting them into dividend equivalents.[3]

The reporting requirements are in addition to reporting of foreign financial assets to the US Treasury Department,[4] particularly the “Report of Foreign Bank and Financial Accounts” (FBAR) for foreign financial accounts exceeding US$10,000 required under Bank Secrecy Act regulations issued by the Financial Crimes Enforcement Network ……………………….

PDC

Moneybrain

When I read what your write I is luvs you to start… Then I is start hating you and by the end man I is get confuse’ as to if it is the same person that start writing the piece, that write the middle, and then turn ’round and write the end… You like you ain’ nah Moneybrain, you is a Tripplebrain …!

In short we are arguing that we the ordinary people should collectively assume the CENTRE and run out whoever is there.

@BAFBFP
I must say that I am in noway surprised that YOU have difficulty following my logic. Afterall, YOU have trouble appreciating that absolutely superior approach and results of Lee’s Singapore versus Castro’s Cuba. Singapore’s citizens are very far ahead of their former colonial masters far less Cuba. ( you are stubborn as the proverbial mule in the face of overwhelming evidence and defeat)

Strict Capitalistically based Socialism is the way to go. Govts role is to promote equality, excellent Education, Healthcare etc BUT the citizenry MUST positively respond by working diligently to improve themselves….no laziness and take, take take from the benevolent Govt like in Europe, Nth Am etc

I regret confusing wunna wrong tracked minded, Failed Socialist adherents.
It just WILL NOT work as practiced! Same is true for the Govt Corrupted Capitalism, with some dependence inducing Socialist policies, currently in use in the US.

http://topics.nytimes.com/topics/news/international/countriesandterritories/china/business_and_economy/index.html?query=ECONOMIC CONDITIONS AND TRENDS&field=des&match=exact