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What country will take Hong Kong's mantle as the East's pro-business tax haven
Posted on 7/2/20 at 1:09 am
Posted on 7/2/20 at 1:09 am
I am immennetly saddened that I was never able to see the old Hong Kong in person. It was actually a beacon to the world of East and West mixing to perfection... Western business sense and Civil liberties mixed with Eastern ambition and tradition.
But who takes their place now?
There has got to be some first world east Asian country right now devising a plan to lower their corporate tax rate and take that banking and commerce corps from Hong Kong.
The country would have to have a major port in the South China Sea and perhaps even let the New Hong Kong be a semi-autonomous, business friendly city-state as was the model for hundreds of years.
The country would also probably need to already have lots of western interaction.
The contenders I can think of, based on geography, would be:
Taiwan (won't happen obviously)
Phillipines (probably too corrupt)
Malaysia (all I know about the country is Kualua Lumpur looks cool and their Jets go missing)
Vietnam (Commies so probably not)
Brunei (way too much Sharia Law)
Singapore (probably the best bet, but don't they kind of have a dictatorship?)
Japan: (Okinawa is really the only part in the Hong Kong region, but I doubt it)
Indonesia (too much Sharia, again)
But who takes their place now?
There has got to be some first world east Asian country right now devising a plan to lower their corporate tax rate and take that banking and commerce corps from Hong Kong.
The country would have to have a major port in the South China Sea and perhaps even let the New Hong Kong be a semi-autonomous, business friendly city-state as was the model for hundreds of years.
The country would also probably need to already have lots of western interaction.
The contenders I can think of, based on geography, would be:
Taiwan (won't happen obviously)
Phillipines (probably too corrupt)
Malaysia (all I know about the country is Kualua Lumpur looks cool and their Jets go missing)
Vietnam (Commies so probably not)
Brunei (way too much Sharia Law)
Singapore (probably the best bet, but don't they kind of have a dictatorship?)
Japan: (Okinawa is really the only part in the Hong Kong region, but I doubt it)
Indonesia (too much Sharia, again)
This post was edited on 7/2/20 at 1:12 am
6
Posted on 7/2/20 at 1:23 am to Jack Ruby
quote:
Singapore (probably the best bet, but don't they kind of have a dictatorship?)
And?
As dictatorships go, it's pretty benevolent. And if you've ever been to Asia (and I think perhaps you have), you know that authoritarianism is kind of baked into all their cultures anyway. It's why mainland Chinese are perfectly happy to go along with the Chinese Communist Party. They have "the mandate of Heaven", as it's put in Chinese culture.
And Singapore is basically a Chinese breakoff island with more capitalism.
Posted on 7/2/20 at 1:33 am to Jack Ruby
Asia has the luxury of being filled with incredibly high IQ, hardworking people who aren’t predisposed to being violent criminals, so their political systems don’t really negatively affect their societies unless they go full-blown Mao. Singapore would be a good bet, “dictatorship” aside
Posted on 7/2/20 at 1:48 am to Forever
I guess yall are right the dictatorship stuff. The smart populations there can function under so many different rules and be successful.
Singapore's got the right makeup to do it. What set Hong Kong so much apart though was their free and robust press that hated mainland China.
It's just too bad The Phillipines are so damn corrupt, because it has so much American influence in it, but damn, the govt folks there are nuts, and always have been.
Singapore's got the right makeup to do it. What set Hong Kong so much apart though was their free and robust press that hated mainland China.
It's just too bad The Phillipines are so damn corrupt, because it has so much American influence in it, but damn, the govt folks there are nuts, and always have been.
Posted on 7/2/20 at 5:46 am to Jack Ruby
I think Singapore has enough on its plate. Too bad Malay leadership is too dumb to seek friendly relationship with SG.
Brunei can have potential esp. after the oil money runs out. They don't have a democracy so that's even better.
Brunei can have potential esp. after the oil money runs out. They don't have a democracy so that's even better.
Posted on 7/2/20 at 5:50 am to Jack Ruby
Singapore is the correct answer.
Don’t be surprised to see a rise in finance and banking in certain Middle East countries.
Don’t be surprised to see a rise in finance and banking in certain Middle East countries.
Posted on 7/2/20 at 6:10 am to Jack Ruby
Dictatorship? Commies? Don’t point the finger when you’re living in a country where saying the wrong thing can get you fired.
In Asian countries, while you may get in trouble for speaking out against the government, but you have complete freedom of speech on social issues. There’s no hate speech BS. You want to drop the Nword, go ahead. Want to say transgender are mentally ill at a coffee shop? Fine. You want to voice your displease of terrorists Muslims or Muslims? No one will give you a nasty look. Now, people generally don’t do those things but it’s on the table.
We can’t do that shite here, but we can criticize the government. But no statues in Asia are going down anytime soon.
In Asian countries, while you may get in trouble for speaking out against the government, but you have complete freedom of speech on social issues. There’s no hate speech BS. You want to drop the Nword, go ahead. Want to say transgender are mentally ill at a coffee shop? Fine. You want to voice your displease of terrorists Muslims or Muslims? No one will give you a nasty look. Now, people generally don’t do those things but it’s on the table.
We can’t do that shite here, but we can criticize the government. But no statues in Asia are going down anytime soon.
Posted on 7/2/20 at 6:19 am to Jack Ruby
Singapore already has a preferential tax regime but they at least have enough substantial presence requirements and are BEPS-compliant enough to stay off anybody's naughty list.
But don't count out Taiwan. They are already trying to lure bankers and the immigration from HK to Taiwan is already at a record high. Taiwan needs the talent boost as they are probably 2nd to Japan in talent shortage.
But don't count out Taiwan. They are already trying to lure bankers and the immigration from HK to Taiwan is already at a record high. Taiwan needs the talent boost as they are probably 2nd to Japan in talent shortage.
This post was edited on 7/2/20 at 6:28 am
Posted on 7/2/20 at 6:21 am to Jack Ruby
Singapore is the most likely to take over. I know of 2 people personally who are in finance sector in HK who are attempting to move to SG now.
As for KL like you mentioned earlier, that place is a shithole. Dirty AF. Area near Petronas towers is decent and then the main strip with high end shopping, but you go a few blocks either was and you know you’re in a 3rd world.
As for KL like you mentioned earlier, that place is a shithole. Dirty AF. Area near Petronas towers is decent and then the main strip with high end shopping, but you go a few blocks either was and you know you’re in a 3rd world.
This post was edited on 7/2/20 at 6:25 am
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