Does Australia want or need to be the new HK?

Thursday, 16 July 2020

Via the AFR:

The federal government will consider tax and regulatory concessions to help attract capital and skilled workers fleeing Hong Kong and to make Australia an international financial services hub.

The push by Liberal senator Andrew Bragg and financial services leaders for a regional financial centre in Sydney is being given early consideration by Treasurer Josh Frydenberg as he looks to boost the COVID-19 ravaged economy.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.