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Non-interventionism in Hong Kong
- Words:
- 1235
- Submitted:
- Mon Sep 12 2005
Have a little read: ... Hong Kong had not been as non-interventionist as some economists assumed it to be under British colonial rule. Non-interventionism existed both as a myth and rhetoric. There was rapid growth in post-War spending in social services, transport and public works, gradually enabling the colonial government to depart from its previous law-and-order regime to become some kind of 'provider' state. By the 1980s, the colonial government was to admit, in the words of then Financial Secretary Philip Haddon-Cave (1984), that the government stance was one of 'positive non-interventionism' rather than laissez-faire. The Positive Non-Interventionist Economic Management Approach was developed by Sir Haddon-cave in the colonial era. He believes that the key point for successful economic depend on stable government which have cleared, reliable, steadfast and persistence stance, the main features under the philosophy included the following: Low tax rate and no exchange control, follow prudent financial management policies, and keep a simple and
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