Architect of Prosperity Monnery Neil
Architect of Prosperity Monnery Neil At the end of the Second World War, Hong Kong lived up to its description as "the barren island." It had few natural resources, its trade and infrastructure lay…
Specifikacia Architect of Prosperity Monnery Neil
Architect of Prosperity Monnery Neil
At the end of the Second World War, Hong Kong lived up to its description as "the barren island." It had few natural resources, its trade and infrastructure lay in tatters, its small manufacturing base had been destroyed and its income per capita was less than a quarter of its mother country, Britain. But by the time of the handover of Hong Kong to China in 1997, it was one of the most prosperous nations on Earth. As a British colony it fell to a small number of civil servants to confront these difficult challenges, largely alone.
How did that happen? By 2015 its GDP per capita was over 40% higher than Britain's. Around the world, post-war governments were turning to industrial planning, Keynesian deficits and high inflation to stimulate their economies.
How much did the civil servants in Hong Kong adopt from this emerging global consensus? Virtually nothing. They rejected the idea that
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