Hong Kong city has without doubt proved its wonderful success between 1961 to 1997, having gone from being one of the poorest places on earth, a tiny small fishing village with no natural resources, no national minimum wage, Hong Kong thrived and prospered closing the wealth gap between the rich and poor proven by the gini coefficient. Despite this clear historical evidence this is something Socialists seem immune to. We could draw the comparison between Hong Kong after the second World War to that of China and India and it’s easy enough to see the contrasting difference. China recently has ended up in a crisis thanks to government intervention and it just proves that there is nothing that can rival the free market.
I made this video response to Angry Basterds, a young boy from what I assume is the United States explaining what is wrong with his argument, one thing he at least admitted is that Capitalism does relate to a free society, something Socialism most certainly does not. One only needs to stare at the evidence in contrast between the freest countries in the world to that of the most repressed countries of the world and you can see the contrasting difference in wealth and equality; the freest countries in the world on a scale are more Capitalist whereas the most repressed countries of the world are Socialist. A fair comparison is looking at the likes of Hong Kong and Singapore for economic freedom in comparison to that of Venezuela and things become pretty clear. The boy stated that Capitalism in a free society hurts people but looking at this evidence we can see otherwise.
The reason why I choose to point out the period between 1961 to 1997 in Hong Kong is because it was during this period Hong Kong was mostly free under British rule, it was in 1997 that Hong Kong was handed back to China and since then we have been seeing increasing problems such as the umbrella revolution, more than 90% of the Hong Kong people wish to become a part of Britain again due to these increasing problems. If China learns to move away from Communism politically it would be a beacon to the entire world and I think it is a matter of time that we do see this happening, in fact I would strongly argue with the current financial crisis China is facing we could may well see this, after all government intervention was solely to blame, the older generation are dying out and a younger generation that are more enthusiastic of Capitalism are taking place. One can only see what happens.
We shouldn’t be looking at Hong Kong city and sticking our noses up at their success but rather emulate the success they had and I firmly believe for Great Britain and Scotland to move in this direction, after all Hong Kong went from an average household income of less than $5,000 to more than $38,000+ proving the vast difference between the average poor person of Hong Kong today to that 50 odd years ago.