While deflation hits the United States, inflation is hitting the world of digital assets in Chinese video games and virtual worlds.
Thanks to a new attempt at taxing virtual assets, in-game goods and currencies are experiencing the first signs of inflation.
The transaction volume of digital "assets" reached 9.36 billion yuan ($1.37 billion) in 2007 and is expected to hit 11.12 billion yuan in 2008, according to 5173.com, one of China's major virtual-asset transaction platforms. And now the Chinese government wants a piece of the action: 20 percent. Reports ShanghaiDaily.com:
After individuals … Read more