After the cars, the houses. Taiwan against luxury speculators

In Taiwan, the early days of the 'luxury tax' (on home sales by investors) led to a drastic contraction in transactions. And it is not the first time that luxury is attacked on the island: a new tax was recently introduced on the sales of cars with prices exceeding NT 3 million (about 72 thousand euros). The trend is part of a wider 'retreat'. In Japan, after the natural disasters of March, people shy away from showing off and take refuge in the essentials. And even more generally, the uncertainties weighing on the world economy make it advisable to limit more discretionary purchases almost everywhere. Perhaps it is only in China that the flow of luxury does not stop: there are too many 'new rich' Chinese eager to demonstrate and flaunt, with good or bad taste, their purchasing power.
http://www.chinapost.com.tw/business/asia-taiwan/2011/06/08/305472/Sales-of.htm
http://www.chinapost.com.tw/business/2011/05/31/304418/Carmakers-consider.htm