Thursday, April 30, 2009

Free trade therapy in Hong Kong

Bailouts, regulations, stimulus package, plan de relance économique, subsidies, protectionism, boss snatching, green revolution prophecy, recession, new deals, état sauveur... Feeling depressed? In need a break perhaps? Come to Hong Kong for therapy.

From barren rock to international trade hub, from British colony to PRC's Special Administrative Region.... Hong Kong's history in a nutshell with a skyline bearing testimony to the extraordinary transformative power of free trade.

Walk its bustling avenues. From the heights of Peak, enjoy the view of the city and its busy waters.. The nautical ballet of mighty container ships and splashing sampans. The forest of soaring skyscrapers clad in bamboo scaffolding. Let yourself be swept by the frisson of capitalism....

Selling noodles, buying shares... Up in the International Financial Centre tower, the stock market. Down on the streets, the food and stuff markets. For Western tourists, antics markets well stocked in Chairman Mao memorabilia. On the other side of the border, the motherland joining the market and catching up fast.
Everywhere The Free Market at work doing its magic of wealth creation.

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Exalting, therapeutic. And soothing! So visit. Let the extraordinary energy of the city fill you with optimism about the future.... Free trade therapy. Not cheap but effective! Doing something to protect the freedom to trade helps too. Sign up!
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According to the Heritage Foundation economic freedom index, Hong Kong ranks first. Let us hope it stay there.

For more on tax competion as a liberalising force in the world economy, a brief lesson on taxation and why tax havens should be celebrated (more in the WSJ Europe) Cato Scholar Daniel J. Mitchell explains...

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