alt Hacker News> The solution is to tax the capital account instead (tobin tax)
Isn't that just going to further advantage multinational corporations that don't have to move currency in order to move resources because they're all within the same corporation?
> The solution is to tax the capital account instead (tobin tax)
Isn't that just going to further advantage multinational corporations that don't have to move currency in order to move resources because they're all within the same corporation?
I think you could only avoid it indefinitely if your operations are balanced, i.e. you make some stuff in China and sell it in the US, but also make something in the US and sell it in China.
Otherwise if you make everything in China and sell it in the US you'll eventually have to transfer USD from your US operation to your Chinese operation to pay suppliers, labour, taxes etc.