Sir John Cowperthwaite, a major figure to establish Hong Hong as a prosperous market oriented economy, has already left us for a year.
As the Financial Secretary of Hong Kong in the 60s, Sir John strongly recognized individuals’ decisions and wisdom as the key to economic development and wealth creation. During his time, the policy of low taxation and public expenditures were maintained so that the public were left with more room, resources and opportunities to develop for themselves. While other places that practiced central planning suffered, Hong Kong experienced astonishing economic growth (an annual growth of over 7%) at that period of time. Sir John’s disciplined fiscal policy and market oriented regime quickly converted Hong Kong to a first class economy. Our economic model has even become the showplace to the rest of the world, and few can deny that China’s market oriented economic reform after Mao has been under the influence of Hong Kong’s success.
Being the only independent free market think tank in Hong Kong, The Lion Rock Institute has created a website dedicated to Sir John, who passed away on 21st January, 2006.
Through this Site, we hope to share with you Sir John’s achievement and contribution to us. Even more importantly, any one of us ought to be reminded that our economic freedom has to be treasured and protected.
Please notify us if any discrepancies to facts and omissions on Sir John’s important events. Your comments are important to us!