Why People in Hong Kong Have Incomes 5x Higher Than People in China’s Richest Province
June 29, 2018 By Jon Henschen, Intellectual Takeout For two decades, prosperity has followed economic freedom for the most economically free territory in the world: Hong Kong. An island lacking natural resources, Hong Kong was added to the British Empire after the Opium Wars and eventually transformed into a hub of Britain’s China trade. Britain’s 99-year lease on Hong Kong expired in 1997, at which time, Hong Kong became a Special Administration Region (SAR) and is officially a part of China. But for most intents and purposes, Hong Kong operates as an independent country independent from China. Even with the economic success China has experienced in recent years, Hong Kong residents enjoy income that is four to five times higher than residents of China's most prosperous region, Shanghai. When the United Kingdom turned over...