[Tax] Sloppy reporting by @FT. This is a about how international statistics measure cross-border investment. Yes it makes no sense to treat building a factory same as registering a holding company. But calling the second "profit shifting" is silly https://www.ft.com/content/44de0898-d2fb-11e9-a0bd-ab8ec6435630?desktop=true&segmentId=d8d3e364-5197-20eb-17cf-2437841d178a#myft:notification:instant-email:content …pic.twitter.com/dsTL9ueLaj