Hong Kong in Ukraine?

Michael Perelman reports:

 

Romer is suggesting that less developed countries contract with capitalist nations to set up Hong Kong’s for them.

"Romer suggests that we rethink sovereignty (respect borders, but maybe import administrative control); rethink citizenship (support residency, but maybe import voice in political affairs); and rethink scale (instead of focusing on nations, focus on cities—on city states like Hong Kong and Singapore.)

Paul Romer proposes that developing countries could invite instant Hong Kongs—new cities in new locations run by experienced governments such as Canada or Finland.  They would enrich the country where they are built as special economic zones while also rewarding the distant government that makes the investment of building the new city state and installing a set of fair and productive rules.  Over time, as with Hong Kong, the new city is turned over to the host country.

The idea is getting some traction in the developing world.  This summer Romer is going public with a Bridge Cities Institute website for further exploration and eventual application of the idea."

 

I would build a brand new city somewhere in Crimea or on the Black Sea coast in Nikolaev or Odessa region under jurisdiction of EU. It is similar to Free Economic Zones but with right of control of foreign government rather then local authorities.