“Special Economic Zones are utilized also in China and many other countries around the world to foster innovation, prosperity, and employment. Shenzhen began its transformation into a Special Economic Zone in 1980 and today has a GDP of more than $360 billion and an annualized growth rate of more than seven percent. No wonder it has grown to be home to more than 12 million people. The Prosperity Zone Economic Projection Report published by the Institute for Competitive Government noted that in 2019 worldwide SEZ growth averaged 14.7 percent. This was 11.56 percent greater than the growth averaged by the rest of the world. Let that sink in.”
The Foundation for Economic Education published an original article highlighting how Special Economic Zones and creative entrepreneurship will be the key factors determining the economic recovery in the aftermath of the COVID-19 crisis. You can read it here: https://fee.org/articles/two-things-that-can-rescue-the-world-when-the-covid-19-pandemic-is-over/
