"The data show that Chinese royalty payments to the world grew from $1.4 billion in 1999 to $27.2 billion in 2017. In 2016, China ranked fourth in royalty payments to the world, at just under $30 billion, right behind the United States at just over $40 billion. Both countries are listed behind Ireland (just under $80 billion) and the Netherlands (just under $50 billion) in the same year. Ireland and the Netherlands are special cases because low corporate taxes"
Not saying China is abiding by all the rules, but to put forth nonsense that China doesn't pay anything is just stupid.
Now the St. Louis Fed will be called a group of liars, so now the Treasury is lying to the public. Ridiculous. Have a good weekend.