So says Time.com in Most Competitive Nation? Hong Kong, Singapore Beat U.S.
Why not create more Hong Kongs and Singapores?
Look how well the UAE has done - the distance they've come since the 1980s - despite significant impact due to the global credit crisis. Consider the Dubai International Financial Center: they've created a world class legal and regulatory environment within the UAE's already-favorable business and tax structure.
They are deliberately competing with full-service financial centers like Hong Kong, New York and London "unlike 'offshore' tax havens" (from their website).
The proprietors of the DIFC are legal system/environmental entrepreneurs. The DIFC's courts website has a customer-service tone is unlike anything I'd expect given my limited experience observing in Pennsylania and Federal courts, or given my citizen-level interactions with a variety of government officials. I'd love to hear from anyone who has actual experience doing business in the DIFC or who can give a first-hand impression of the DIFC legal environment.
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