Is free trade still alive? Hong Kong’s perspective

Hong Kong has been heralded as the freest economy in the world, according to the Heritage Foundation’s 2019 Index of Economic Freedom. The city’s special administrative region status has underpinned its reputation as a center of commerce governed by the rule of law, enabling it to play a key role in international trade while serving as a gateway to China. However, recent events have stoked questions about Hong Kong’s long-term trajectory. This coincides with a broader debate over the benefits of free trade as well as elevated trade tensions between the United States and China.

How does Hong Kong—a city uniquely positioned at the crossroads of East and West—view the state of global trade? How will global trade tensions impact the city? What role can Hong Kong play in sustaining the future of free trade and in navigating U.S.-China tensions?

On June 12, the John L. Thornton China Center at Brookings hosted an event to examine the state of free trade in Hong Kong. The Honorable Edward Yau Tang-wah, secretary for commerce and economic development in Hong Kong, delivered keynote remarks, sharing the city’s perspective on free trade. After that, a panel of experts considered the prospects for free trade in Hong Kong before taking questions from the audience.