Singapore grew directly at the expense of “One China”

Singapore and Hong Kong have been rivals for as long as they have known each other. Singapore is a city-state, and Hong Kong was too. That was before the Chinese Communist Party (CCP) decided to assault Hong Kong and impose a draconian national security law over the Asian financial hub. Today, Hong Kong is considered just another Chinese city, where the will of the CCP reigns supreme. Hong Kong’s demise as a financial centre in Asia has fuelled Singapore’s rise, to the extent that Singapore is now doing what it would have never dared to do, say, two years ago. Singapore is bringing in taxes on capital!