In response to HK falling from no.1 in the latest IMD world competitiveness rankings, some official came out to blame this on lack of expenditures in education, research and development, healthcare and technological infrastructure.
However, given HK is ahead of US (the new no. 1) in more favorable tax rates, mobile penetration, internet speed and business efficiency, perhaps the real reason should be HKSAR government’s aggressive persecution against any new tech-related phenomenon, preventing the city from entering into the new tech era? For further discussions on how the ever more meddling government is dragging our feet, please see our earlier writings on these topics: Airbnb, Uber, Cryptocurrency
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