LRI About Us

Moving the Window

of Political Possibility

The Independent Free Market Think Tank in Hong Kong

Jan 2009

THE LION ROCK

In the 1950’s, hundreds of thousands fled turmoil in China. They hoped for freedom and a better life. They settled in droves on the slopes of Hong Kong’s geographical centre – Lion Rock.

“Under the Lion Rock,” a timeless classic from the 70’s by Roman Tam, tells the story of the people who built Hong Kong. The spirit of a community supported the individual efforts of those seeking freedom and prosperity. With no expectation of government support, they built Hong Kong by the sweat of their brows and with community support into the greatest city in Asia.

Lion Rock still resonates with the people of Hong Kong and symbolizes the strength of the people, hope for freedom, individual courage and our aspiration to build a prosperous future.

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Tel: (852) 8101 2112 Fax: (852) 3015 2186 Email: [email protected]

Inspired by People”Under the Lion Rock”

In 2003, I received my Permanent Residence status. At this time, I became very present to the fact that Hong Kong was going to be my home for a very long time. And this was by choice. I love this city. Hong Kong is unique in the world. It has the wealth and sophistication surpassing many developed economies, yet is free of much of the wealth redistribution and bureaucratic smothering present in those countries. This 'benign neglect' on the part of the British created a haven of freedom that took in the generation "Under the Lion Rock".

This city and her people are in a unique position to generate more freedom, opportunity and wealth than this planet has ever seen. This is even more important in China and Asia, the fastest changing and most populous part of the globe. I love Hong Kong and am inspired by her possible future. I am honoured to work with people who share the vision of a Hong Kong that the world looks to for leadership. We have the intellect, the drive and the resources here. We have a responsibility to the world not to waste it. The people of Hong Kong have the power to deliver a free society with

THE LION ROCK INSTITUTE

Hong Kong needs an independent free market think tank to provide policy options. In 2004, the Lion Rock Institute was launched to fulfill this need. The institute is guided by the principles that have generated tremendous wealth and freedom for millions of people worldwide.

We believe:

open and free markets,strongly defended property rights,small government,low taxes, andminimal restrictions on the business environment

create the best environment for freedom and prosperity.

OUR VALUES

Free market values as expressed by Adam Smith, Friedrich Hayek, Milton Friedman and others provide the strongest base for guiding successful government policy in Hong Kong.

The people of Hong Kong have a right and the capability to be involved in the debate about the economic policy of today that will affect their future.



Turning the tide

I was always proud of being a Hong Konger.

“Hong Kong is the freest economy in the world” – this is usually my starter when introducing HK to a foreigner.

“Smart and hardworking people are rewarded for their contribution. That is why it is a city of plentiful opportunities and successes.” – this is how I explain the Hong Kong miracles in short.

Alas, the tide changing, slowly but certainly. Expansion of government programs is now the norm. The culture of reliance is gradually building up. People’s vision is clouded by the illusion of a safety net and the private economy is being crowded out by taxpayers’ money.

“To turn the tide, we need

The people of Hong Kong have the responsibility to exercise that right in a thoughtful manner after educating themselves on the factors influencing economic issues.



LEFT UNCHECKED, THE GROWING DISTRUST TOWARDS FREE ENTERPRISE WILL DESTROY OUR FREEDOM, LEAVING A

WE MUST ACT NOW TO ENSURE THAT THE PEOPLE OF HONG KONG DEMAND POLICIES AND IDEAS CREATE A FREE AND PROSPEROUS

THE THREAT & THE OPPORTUNITY FOR HONG KONG

Hong Kong has long been hailed as an economic model for the world. Our low and simple taxes, relatively small government, and practical spirit have allowed the natural enterprise of the Chinese people to flourish along side an international community attracted to a City of Opportunity. Even through our darkest days following the handover, faced with plague and financial distress, our freedom gave us the room to adapt, recover and thrive.

Now, a new array of forces is aligned to threaten Hong Kong’s future. Socialist populists in Hong Kong have taken their cue from foreign counterparts to threaten Hong Kong’s strength and uniqueness. A host of regulatory and welfare ideas, cloaked in new rhetoric, threaten to engulf our city and rob it of its special character and the secret of its success. Our pre-handover political system did not allow or require most of Hong Kong to be politically active. That has changed and demagogues find fertile ground for socialist ideas among a newly mobilized political class.

The government is under pressure from many quarters to implement ‘normal’ policies that have restrained the enterprise of people worldwide. Minimum wage, antitrust, increased welfare, nationalization of industries, straight-jacket urban planning restrictions and the tax and spend structure to support them are all being advanced and to some degree accepted by a bureaucracy eager to expand their influence in Hong Kong.

Our corporations and entrepreneurs have ceased to be our heroes for lifting people out of poverty and providing jobs. They are being demonized by a civil service and populist politicians eager to win public support by portraying themselves as defenders of the proletariat from predation by the private sector. Instead of people who seek to seize the day, socialists would

make us a city of victims needing their protection.

This is not Hong Kong’s heritage or its best possible future. We have a duty



to ensure our future is not filled with bureaucratic self-interest and populist rhetoric, but solutions that mobilize Hong Kong’s entrepreneurial spirit and enrich all her people.



OUR MISSION

Have a direct and demonstrable impact on government policy by advancing concrete solutions to keep government small, regulation minimal and taxes low.

Educate policy makers, active political participants and the general public on the benefit of adopting free market values in building a prosperous Hong Kong.

Export Hong Kong’s best practices to the rest of the world, making Hong Kong a beacon of freedom for people around the world.



There is no place like Hong Kong

I was born in Hong Kong. I was never grateful and appreciative for all that it had to offer. I left Hong Kong thinking of going to a better place. After many travels, I have found that there is no place like Hong Kong.

Of course, we are not perfect. By working through the Lion Rock Institute, I can make this city better - and inspire other places to follow our lead and

“Society’s course will only be changed by a change in ideas.”

- F.A. Hayek, Nobel Prize Winner in Economics (1972)

MOVING THE WINDOW OF POLITICAL POSSIBILITY

Politicians work within the Window of Political Possibility: the boundaries of currently acceptable public policy solutions. If politicians advocate solutions outside this window, they will likely be marginalized.

Those who believe they can use government power to secure their objectives are always pushing the window of political possible towards a planned economy.

To counterbalance populist calls for government intervention and to move Hong Kong’s values towards the free market, the Lion Rock Institute:

Collaborates with scholars and experts to generate innovative solutions;Promotes solutions in a way everyone can understand;Provides media with thought provoking facts and newsworthy stories on the unintended consequences of bureaucratic interventions; andDevelops educational materials on free market ideas for teachers and professors to use.Counters the misinformation of populists and socialists that would use government for their own ends.



The Window of Political Possibility:the range of acceptable policies

Free Market Planned Economy

Propaganda Solutions

DRIVING FORCES: THE THREE CO-FOUNDERS

Andrew WORK

Andrew’s work on economics and public policy has been published in over 15 publications including The Wall Street Journal Asia, the South China Morning Post, Hong Kong Economic Times, Hong Kong Lawyer and many more. He has appeared before business organizations, government departments, the Legislative Council of Hong Kong and on television and radio to promote the work of The Lion Rock Institute.

Andrew is a permanent resident of Hong Kong and passionately committed to the future success of this city. He is the ex-President of McGill University’s Hong Kong alumni (B.Sc. 1994) and received his MBA from the University of Victoria (2002). He also sits on the executive committee of The Canadian Chamber of Commerce in Hong Kong. He is married and has two children, little Hong Kongers Victoria Karen (WEI Nuo) and Charlotte Alisha (WEI Rui).

Andrew cut his teeth on free market ideals in the Free Trade election of 1988 in Canada with the pro-free trade Progressive Conservatives. In addition to organizing youth sector political activity, he worked for The Honourable Tom Siddon on Parliament Hill in Ottawa. After coming to Asia, Andrew worked in the events management and community building sector for 7 years, including stints with The Canadian Chamber of Commerce in Hong Kong and The Economist.

Simon LEE Chao Fu

Former legislative assistant Simon Lee started early in the ideas game, running political campaigns. After he ran in the District Councils elections 1999, He realized politics was not his way to make Hong Kong a better place â€“ so he started his career in public relations consultancy and later became one of the co-founders of the Lion Rock Institute.

His work with The Lion Rock Institute led to an offer to write for, and subsequently become the person-in-charge of, Apple Daily's Op-Ed page. He is also the Head of Business Research of the paper's Business and Financial News Department, where he manages a team of free market columnists and researchers. He has also been published in the Hong Kong Economic Journal Monthly, Wen Wei Po, Hong Kong Lawyer and spoken at countless industry, university and other public forums promoting freedom and free market public policy options.

Simon has a degree in Economics and Political Science from the University of Michigan (B.A. 1997) and a Master degree in Law and Public Affairs (M.S.Sc. LPA, 2001) from the Chinese University of Hong Kong. His first child, Jayne Lee, was followed by his second, Josh Lee.

Andrew SHUEN Pak-manSuite 1903, Kai Tak Commercial Building, 317-319 Des Voeux Road Central, Hong Kong

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http://M.S.Sc/

Shuen’s commitment to this city led him to become the youngest Legco candidate in 2000 promoting the most liberal economic policy platform. He received a degree in Economics from the University of Michigan (B.A. Econ 1999). He was formerly an analyst specializing in the energy and natural resource sector with a respected Hong Kong investment bank. He now is a popular financial columnist with Apple Daily, providing insights and analysis on the market.



DRIVING FORCES: THE BOARD OF ADVISORS

Mr. Bill Stacey, Aviate Global, Chairman, The Board of Advisors Bill Stacey is a Director and Head of the Asia Banks research team at Credit Suisse, where he covers Regional financials, China financials, and the Hong Kong bank sector. He joined Credit Suisse in 1999, covering Australian Banks. In 2002, the Australian team rated second in the Greenwich survey of the largest Australian investors and first with European investors. In 2004, Bill’s CSFB Asia team rated third in the Institutional Investor poll and second in the Asia Money poll for China Insurance.

Bill has extensive experience in senior strategy and finance roles in the financial services industry in Australia and internationally. He chaired the Australian leg of the Korean debt restructuring and has guest lectured on Asian business, banking and technology at Melbourne Business School.

Bill received an MBA from Melbourne Business School and a Bachelor of Arts with First Class Honours from the University of Western Australia. Before entering the equities industry, he was part of the senior management team at National Australia Bank, where he variously had responsibility for group strategic planning, capital management and Asia strategy. Most recently, he was head of strategy and finance in a global division. He also has experience in privatisation and restructuring of government enterprises and was a speechwriter for a federal member of parliament in Australia.

Mr. Shih Wing Ching, Chairman, (Centaline Holdings) Company Limited

Shih Wing-ching was born in Shanghai and brought up in Hong Kong. He is the Chairman of Centaline Group, which has more than 16,000 employees and business covering fields of property agency, surveying and valuation, personnel consulting service, wealth management, information technology focusing on property data management and internet mapping service. Today, the business of Centaline is growing rapidly in the mainland China and the company has established extensive network throughout major cities of the country. Mr. Shih also launched am730 in Hong Kong in 2005, a free daily newspaper The paper was founded to appeal to a youthful audience and encourage an interest in the future of Hong Kong and integrity in journalism.

With the enthusiasm for community services, Mr. Shih participates in the management of a number of social organizations. He is currently the Chairman of Board of Governors of Hong Kong Sinfonietta, a Member of the Hong Kong Housing Authority, an Honorable Director of Sowers Action. Shih's works for the society go beyond the commercial sphere, for he frequently delivers speeches in tertiary institutions, he hosts radio programs and writes articles for newspapers regularly on various current issues.

Mr David O’Rear, Chief Economist, The Hong Kong General Chamber of Commerce

David O'Rear, Chief Economist for the Hong Kong General Chamber of Commerce, has spent 25 years in Asia advising multinational companies on the dynamics of the region; forecasting economic and political developments; and working with companies and governments to modernize the regulatory environment. His work has brought him into close contact with business and government leaders at the senior Suite 1903, Kai Tak Commercial Building, 317-319 Des Voeux Road Central, Hong Kong

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most level, where he regularly provides briefings on recent and pending events as a contextual foundation for strategic planning and positioning. Prior to joining the HKGCC in 2002, David was Regional Economist for The Economist Group Asia-Pacific. He has a Master's Degree from the University of California, Berkeley.



Dr. Aron Harilela, Director, Harilela Hotels Ltd.

Dr Aron Harilela is a Director of Harilela Hotels Ltd, with responsibility for overseeing operations in hotels within S.E. Asia and Europe. He is also in charge of acquisitions for The Harilela Group. Aron joined the group at their London office in 1994 and subsequently joined the Hong Kong headquarters in 1996.

Harilela Hotels Ltd is a privately owned multinational company that has over twenty years of experience in the investment and development of hotels in the United States, Asia, Europe and Canada. The Group’s strategy is to build and develop leading positions in each of their fields of operation. The Group’s Hotel Division encompasses award winning hotels operated by InterContinental Hotels Group, Starwood, Hilton International and Quality Hotels Chains.

Aron is the non-executive Chairman for Burson Marsteller in Hong Kong. He sits on The Court of Hong Kong University. Aron is also The Court Member as well as member of The Search Committee for Associate Vice-President (Institutional Advancement) of The Hong Kong University of Science and Technology. He is Chairman of Retail & Distribution Committee and Vice Chairman of Real Estate & Infrastructure Committee in Hong Kong General Chamber of Commerce; he is also a member of the Retail Task Force of the Business Facilitation Advisory Committee and Honorary Secretary for the Business and Professional Federation.

Aron graduated with an honours Bachelor degree in Law and Politics, and a Ph.D. in Political Philosophy, both from the University of Hull, England. He has written and published several articles on contemporary social political thought.

Despite a tight schedule to meet his business, professional, civic and social commitments, Aron manages to find time to devote to recreational activities. He plays a fair game of tennis, is proficient at horseback riding and heads the Harilela team in polo – a game he loves and at which he has won several trophies.

DRIVING FORCES: THE EXECUTIVE DIRECTOR

Peter Wong joined The Lion Rock Institute in 2007 as its Deputy Executive Director after completing his Master of Economics degree at Hong Kong University. Mr. Wong brings a wealth of managerial experience relating to his work in biotechnology and engineering project management as well as real estate stewardship. He has also had experience in fundraising for biotechnology research. He worked in biotechnology in Canada before returning to Hong Kong in 2001. He received his B.A.Sc. (Bachelor of Applied Sciences, Chemical Engineering) from The University of British Columbia.

Mr. Wong is married and has had his first child in Winter 2007. His ideas have been published in the prestigious Hong Kong Economic Journal.

DRIVING FORCES:

Dan Ryan is a Director of the Lion Rock Institute. He has been closely associated with the institute since its establishment in 2004. He is a lawyer by training and has worked for the last 8 years in both Mainland China and Hong Kong for international law firms including Baker & McKenzie and Freshfields Bruckhaus Deringer. He currently works as General Counsel for a technology company in the financial data licensing sector. He has been



published in The Wall Street Journal, The South China Morning Post and The Australian on the issue of competition law in Asia.

Wallace Chan became an Associate Scholar of The Lion Rock Institute in 2006 while completing his Master of Economics degree at Hong Kong University. He is a former public school teacher from British Columbia, Canada where he received his degrees in Economics and Education from The University of British Columbia. He now works with Canada’s largest and most prestigious free market think tank, The Fraser Institute, as their Coordinator, Chinese Affairs. He also hosts a radio show on Fairchild Radio and has been published widely in Hong Kong and Canadian Chinese language publications.

Wong Kin Ming joined The Lion Rock Institute as an Associate Scholar in 2007. Mr. Wong has a lengthy list of academic and professional qualifications. He earned his CFA and CPA designation in 2003 and 2005, respectively, after his graduation. In 2006, he received his M.Sc. (Risk Management) from The Chinese University of Hong Kong. His passion in international monetary policy led him to quit his risk management post at one of Hong Kong’s leading banks and return to his alma mater to pursue research postgraduate study in economics. Apart from Apple Daily, which has been publishing his articles since 2007, Mr. Wong also expresses his views on Hong Kong social policies and world economic events at Hong Kong Economic Journal, The Standard, SCMP and Now TV.



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LRI About Us