Interesting numbers for tax wedges in EM from @OECDeconomy Big surprise for me @michaelxpettis @M_C_Klein @Brad_Setser is 33% for China/Shanghai!
Interesting numbers for tax wedges in EM from @OECDeconomy Big surprise for me @michaelxpettis @M_C_Klein @Brad_Setser is 33% for China/Shanghai! Mainly driven by employer SS