Hoping to help stop the local property price from going up too fast, the Hong Kong government has just imposed a 15% tax for residential homes to be bought by foreign buyers. However, the real effect of this new policy remains to be seen.
Perhaps, to keep up with the times, a Laissz-faire economy with proper government intervention would be necessary?
A growing number of nations are now claiming that they have become victims of globalization. In particular, the main focus seems to be loss of jobs to other countries. As a result, we are hearing a rising call to “buy local,but not foreign goods”.
However, if all nations do the same, what would happen to Free Market and World Trade?
Welcome to isolationism !