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The currency union in this case is paired with lack of tariffs and free movement of capital and goods, which is not the case for Hong Kong and the US, nor was t
by riffraff 7y ago
The currency union in this case is paired with lack of tariffs and free movement of capital and goods, which is not the case for Hong Kong and the US, nor was the case in the 19th century Australia and Canada.
- eru 7y agoGood points. Though to be honest, the EU has plenty of de-facto restrictions on free trade in services. (Unilateral) free trade was a pretty popular policy back then. In practice, the decrease in transportation costs we have today dwarfs the difference in tariffs.