[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fiQ6emm9Ch-VMk2d5COMaUOHEirkR6Xc_VCAjV7e7fx8":3,"$fx1R5Q3TptLpx5uvLabb8Fn_NS60IK4jH-mhgXGXFf4k":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},151090,"Lou Jiwei","L",13,null,"lou-jiwei",[],{"quotes":13,"pagination":128},[14,27,39,51,62,73,84,95,106,117],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":9},1766670,"Everyone knows the U.S. economy shouldn't be so reliant on consumption. More investments should be made.",4,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[22],{"id":23,"tag":24},4757667,{"id":25,"tag_name":26},2418,"economy",{"id":28,"quote_text":29,"author_id":5,"source_id":17,"has_image":18,"author":30,"source":31,"quote_tag":32,"commentary":38},1766667,"After the adjustment of the cutoff point, the number of taxpayers will drop by more than a half, approximately. It will live up to our legislative principle to care for the interests of low and medium-income groups.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[33],{"id":34,"tag":35},4757664,{"id":36,"tag_name":37},14255,"adjustment","**The Backstory**\nThis quote is likely from a speech or press conference given by Lou Jiwei, the former Chinese Finance Minister, in the early 2010s. During this time, China was implementing a series of tax reforms aimed at reducing income inequality and increasing tax revenue. The specific context of the quote is the introduction of a new income tax law that adjusted the cutoff point for taxpayers.\n\n**The Hidden Insight**\nThe quote reveals a counter-intuitive truth about the nature of tax policy and social welfare. On the surface, the statement seems to prioritize the interests of low and medium-income groups, which is a laudable goal. However, the hidden insight lies in the fact that the adjustment of the cutoff point will actually result in a significant reduction in the number of taxpayers, implying that the true beneficiaries of this policy may not be the low and medium-income groups as much as they are the government's revenue coffers.\n\n**How to Use This**\nThis mindset can be applied today by policymakers and business leaders who are tasked with making difficult decisions about resource allocation and social welfare. Instead of simply prioritizing the interests of one group over another, they can take a step back and consider the potential long-term consequences of their decisions, including the potential for unintended benefits or costs. By adopting this mindset, they can make more informed decisions that balance competing interests and achieve their goals in a more sustainable way.",{"id":40,"quote_text":41,"author_id":5,"source_id":17,"has_image":18,"author":42,"source":43,"quote_tag":44,"commentary":50},1766664,"We will collect windfall-profit taxes in some monopolized sectors within two years.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[45],{"id":46,"tag":47},4757662,{"id":48,"tag_name":49},9919,"collect","**The Backstory**\nThis quote is attributed to Lou Jiwei, the former Chinese Minister of Finance, during his tenure from 2013 to 2016. At that time, China was experiencing a surge in economic growth, but also facing increasing concerns over income inequality and market monopolies. As the government sought to address these issues, Lou Jiwei's statement reflects the administration's efforts to implement policies that would redistribute wealth and promote fair competition.\n\n**The Hidden Insight**\nThe quote reveals a subtle yet significant paradox: Lou Jiwei's promise to collect windfall-profit taxes implies that the government acknowledges the existence of monopolies, yet simultaneously seeks to profit from them. This tension highlights the complexities of regulating markets and the challenges of balancing economic growth with social welfare.\n\n**How to Use This**\nIn modern application, this mindset can be applied by entrepreneurs and business leaders who recognize the value of strategic partnerships or collaborations with established players in their industry. By acknowledging the power dynamics at play, they can negotiate favorable terms that benefit both parties, ultimately driving growth and innovation while minimizing the risk of regulatory backlash.",{"id":52,"quote_text":53,"author_id":5,"source_id":17,"has_image":18,"author":54,"source":55,"quote_tag":56,"commentary":9},1766660,"We learned from this hearing that people hope the cutoff point should be even higher.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[57],{"id":58,"tag":59},4757658,{"id":60,"tag_name":61},3496,"hearing",{"id":63,"quote_text":64,"author_id":5,"source_id":17,"has_image":18,"author":65,"source":66,"quote_tag":67,"commentary":9},1766658,"We may consider implementing this special tax from next year. The companies are enjoying record profits because of the oil they extracted from the country.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[68],{"id":69,"tag":70},4757656,{"id":71,"tag_name":72},9469,"companies",{"id":74,"quote_text":75,"author_id":5,"source_id":17,"has_image":18,"author":76,"source":77,"quote_tag":78,"commentary":9},1766655,"I need to make money. If I don't, I cannot survive.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[79],{"id":80,"tag":81},4757653,{"id":82,"tag_name":83},27,"money",{"id":85,"quote_text":86,"author_id":5,"source_id":17,"has_image":18,"author":87,"source":88,"quote_tag":89,"commentary":9},1766648,"There are three main pillars of China's economy. One is export, which is limited by sluggish global demand. The second is investment. In many sectors, there is already too much investment and overcapacity. The third is consumption.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[90],{"id":91,"tag":92},4757647,{"id":93,"tag_name":94},6973,"global",{"id":96,"quote_text":97,"author_id":5,"source_id":17,"has_image":18,"author":98,"source":99,"quote_tag":100,"commentary":9},1766641,"In 2008, when Lehman Brothers collapsed, we anticipated that Europe was going to have a very different bailout scheme than the U.S. because of their different political systems and different relationships between the central banks and the fiscal authorities.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[101],{"id":102,"tag":103},4757640,{"id":104,"tag_name":105},7594,"banks",{"id":107,"quote_text":108,"author_id":5,"source_id":17,"has_image":18,"author":109,"source":110,"quote_tag":111,"commentary":9},1766636,"The euro zone must strike for a better governance structure, and there is no alternative to that. Euro zone countries must either develop an exit mechanism for troubled members, or it should embrace a closer political union: an effective governance structure that is capable of enforcing rules.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[112],{"id":113,"tag":114},4757633,{"id":115,"tag_name":116},1856,"capable",{"id":118,"quote_text":119,"author_id":5,"source_id":17,"has_image":18,"author":120,"source":121,"quote_tag":122,"commentary":9},1766622,"Indebted countries can only grow out of their debt troubles through strong economic growth; austerity measures alone cannot work. It is imperative to engage in deep structural reform to spur growth.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[123],{"id":124,"tag":125},4757623,{"id":126,"tag_name":127},279,"alone",{"currentPage":129,"totalPages":130,"totalItems":8,"itemsPerPage":131},1,2,10]