free trade

Image: Dawn Hudson, Vintage Trade Poster (Publicdomainpictures.net)

Hainan, China’s island province located at the country’s southernmost point, appears to be a much-needed haven for companies struggling to survive the current tariff war. In 2020, the Chinese leadership released a large-scale plan to turn the entire province into a free trade port. Endowed with lower tax rates and other preferential treatments such as exemptions from certain legal restrictions, Hainan, which has a land area of only 33,920 square kilometers, may play a role commensurate with its special status to help China weather the tariff storm.Read more