Small Government: Time for a Rethink?
Before the pandemic, there were already calls in Hong Kong to rethink its free-market capitalism model because of perceived failings such as unequal wealth distribution and environmental damage. For supporters of small government and open markets, Covid-19 is not only a health crisis but a test of such economic thesis as governments around the world have embarked on unprecedented spending to prop up businesses and households. At a webinar on 17 August, Zhiwu Chen, Chair Professor of Finance at HKU Business School, and Nick Sallnow-Smith, former Chairman of the Lion Rock Institute Hong Kong, shed lights on whether government interventions are able to address various social and economic problems surrounding the city, and Hong Kong’s pro-market approach to the economy is still relevant in the current global context.
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