Wednesday, October 8, 2014

WSJ: "Hong Kong Pops the China Bubble"

Bret Stephens:

"Don’t tell that to the people of Hong Kong, who have learned the hard way that, except when pressured, Beijing honors no promises, countenances no dissent and contemplates no future in which the Communist Party’s grip on power can be loosened even slightly. Hong Kong became rich on the small government, laissez-faire, rule-of-law-not-men principles of its late colonial administrators. It has remained rich because, by comparison to mainland China, it remains relatively free and uncorrupt. Hong Kong is what China could be if it weren’t, well, China—if state intervention were minimal; if government weren’t a vehicle for self-enrichment; if people could worship, write, exercise and associate just as they please."
Great piece! China is a joke!

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