The Uncharted Road to Planning: Hong Kong's 5 Year Plan Dilemma Hong Kong has long prided itself on its laissez faire economy, but a 5 year plan is now in the works, raising questions about the city's ability to balance state guidance with its cherished market led system.
This shift towards planning was sparked by economic stagnation and increasing competition from neighboring cities.
Economist Heiwai Tang argues that even the most ardent defenders of laissez faire economics recognize its limitations. "The market is almost always right," he says, "but it's not always right.