Hong Kong is an amazing success story of free market principles and practices. This free market accomplished massive technological, educational, and financial strides. All while leading the way in prosperity, and quality of life for the rest of the globe.
This autonomous region will always be a shinning example of financial prosperity and freedom. We must find a way to connect global economic markets in an open, fair and transparent way. Their economy opened trade, and encouraged investment which allowed its population to flourish. This allowed them to become one of the most competitive and strong economies in the world. This economic example has proven that low taxes, open trade, and low regulatory barriers have immensely positive effects on the overall innovation, and technology which exists in the economy.
Closing, this dealing with Hong Kong will go down as a massive historical mistake for China. It will be a massive blow to freedom and liberty around the world, but the closing of this pinnacle of free market principles is imminent. China has already began to blur the barrier between state and private business. We are watching the destruction of one of the best examples of the principles we discuss on this site.
This economy has inspired Thousands, if not millions of entrepreneurs to pursue and push economic openness and freedom around the world. Hong Kong has given economic success without stifling personal freedoms in the process. The quality of life is great in Hong Kong and we need more of that. This place has been a haven for wealth for the past few decades, and a hub for major business headquarters. Every person deserves to have a chance to create the next best thing, or innovate an entire industry without overcoming massive regulatory barriers. Help free Hong Kong by sharing because the free market needs you! Hong Kong got it right.
Written by Caleb Hogan from ofthefreemarket.com on April 20, 2021
