Hong Kong
No oil, no farmland — Hong Kong became Asias financial capital with one container port and zero tax.
Hong Kong is a tiny island with no oil, minerals or farmland. It cannot feed itself or defend itself. By rights, it should be poor. Instead, it became the third largest financial center on Earth. The lesson is not about the island. It is about what it understood about the world. In 1960, Hong Kong chose to be a free port. "While neighbors imposed tariffs," Hong Kong said, "bring money here, trade freely, keep profits. Factories came because goods exported without tax. Banks came because deposits moved freely. Companies incorporated there because paperwork was fast and courts predictable." Hong Kong became a hub.
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