VOX, the CEPR policy portal, carries an article today about Hong Kong entitled “Hong Kong: A two-stage economic experiment.”
In it Neil Monnery highlights how post-war Hong Kong has delivered one of the most dramatic improvements in living standards in history. He assesses the contribution of one key official – finance minister Sir John Cowperthwaite – whose laissez-faire approach of ‘positive non-interventionism’, much admired by Milton Friedman, underpinned that success.
It also explores, 20 years on from the handover to China, whether a second stage of the Hong Kong economic experiment might be in progress, perhaps leading to faltering freedom and faltering growth.
https://voxeu.org/article/hong-kong-two-stage-economic-experiment