4 ms·
Singapore and Hong Kong are two examples where they have few natural resources, but have developed massive economies, mostly by just allowing trade to happen wi
by sparkie 6y ago
Singapore and Hong Kong are two examples where they have few natural resources, but have developed massive economies, mostly by just allowing trade to happen without much red tape. Their location as ports plays a major role in this, but it's no coincidence that these two countries are consistently at the top of the economic freedom index. Why do these ports stand out above say; Shanghai, Kuala Lumpur, Ho Chi Minh, Jakarta or Manila?
- dirtyid 6y agoThey were both significant British ports chosen for their favorable location, benefited from economic network of the greater Empire while being protected politically and militarily by structures far beyond their local ability. Part of it was also geopolitics of the time that dictated which colonies were better development prospects due to competing spheres to influence, i.e. why HK was chosen over Weihaiwei. Schrewd governance and intersecting geopolitical interests allowed them to maintain the inertia after decolonization.