Moving the Window of Political Possibility

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					 Moving the Window
of Political Possibility
The Independent Free Market Think Tank in Hong Kong

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.

  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

  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 opportunity for all. I want that to be the legacy we leave for our children.

  Andrew Work
  Founder and Executive Director
  The Lion Rock Institute

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THE LION ROCK INSTITUTE                                   Turning the tide

Hong Kong needs an independent free market                I was always proud of being a Hong Konger.
think tank to provide policy options. In 2004,             “Hong Kong is the freest economy in the world” –
the Lion Rock Institute was launched to fulfill           this is usually my starter when introducing HK to a
this need. The institute is guided by the                 foreigner.
principles that have generated tremendous
wealth and freedom for millions of people                 “Smart and hardworking people are rewarded for
                                                          their contribution. That is why it is a city of plentiful
worldwide.                                                opportunities and successes.” – this is how I explain
                                                          the Hong Kong miracles in short.
We believe:
                                                          Alas, the tide changing, slowly but certainly.
        open and free markets,                            Expansion of government programs is now the norm.
        strongly defended property rights,                The culture of reliance is gradually building up.
                                                          People’s vision is clouded by the illusion of a safety
        small government,
                                                          net and the private economy is being crowded out by
        low taxes, and                                    taxpayers’ money.
        minimal restrictions on the business
        environment                                       “To turn the tide, we need concrete solutions and a
                                                          social environment which will embrace these
create the best environment for freedom and               solutions” – this is why we founded the Lion Rock
                                                          Simon Lee Chao Fu
                                                          Founder and Director
                                                          The Lion Rock Institute

        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.

        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.

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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              LEFT UNCHECKED,
future. Socialist populists in Hong Kong have taken their cue              THE GROWING
from foreign counterparts to threaten Hong Kong’s strength                 DISTRUST TOWARDS
and uniqueness. A host of regulatory and welfare ideas, cloaked
                                                                           FREE ENTERPRISE
in new rhetoric, threaten to engulf our city and rob it of its
special character and the secret of its success. Our pre-handover          WILL DESTROY OUR
political system did not allow or require most of Hong Kong to             FREEDOM, LEAVING A
be politically active. That has changed and demagogues find                WELFARE STATE IN
fertile ground for socialist ideas among a newly mobilized                 ITS PLACE.
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.

  WE MUST ACT NOW TO                                  This is not Hong Kong’s heritage or its best
  ENSURE THAT THE PEOPLE                              possible future. We have a duty to ensure our
                                                      future is not filled with bureaucratic self-interest
                                                      and populist rhetoric, but solutions that mobilize
  POLICIES AND IDEAS                                  Hong Kong’s entrepreneurial spirit and enrich all
  CREATE A FREE AND                                   her people.

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                                                           There is no place like Hong Kong
     Have a direct and demonstrable impact on
     government policy by advancing concrete                I was born in Hong Kong. I was never grateful and
                                                            appreciative for all that it had to offer. I left Hong
     solutions to keep government small,                    Kong thinking of going to a better place. After
     regulation minimal and taxes low.                      many travels, I have found that there is no place
                                                            like Hong Kong.
     Educate policy makers, active political
     participants and the general public on the             Of course, we are not perfect. By working through
                                                            the Lion Rock Institute, I can make this city better
     benefit of adopting free market values in              - and inspire other places to follow our lead and
     building a prosperous Hong Kong.                       make the world better place.

     Export Hong Kong’s best practices to the              Andrew Shuen Pak Man
                                                           Founder and Director
     rest of the world, making Hong Kong a                 The Lion Rock Institute
     beacon of freedom for people around the

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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

                             Propaganda          Solutions

Planned Economy                                                                      Free Market

                             The Window of Political Possibility:
                               the range of acceptable policies

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; and
        Develops 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.

      “Society’s course will only be changed by a change in ideas.”
                         - F.A. Hayek, Nobel Prize Winner in Economics (1974)

Suite 1207, Kai Tak Commercial Building, 317-319 Des Voeux Road Central, Hong Kong                 Page 6
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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 – 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-man

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.

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Mr. Bill Stacey, Aviate Global, LRI Chairman Board of Directors & Advisors
Bill Stacey is the Chairman of Hong Hong's leading free market think tank, the Lion Rock Institute. He is on the Board
of Advisors of the Mannkal Economic Education Foundation and has been involved in advocacy of market reform for
the last 25 years. Professionally, Bill has been an executive with leading financial institutions in Asia and globally. During
the 1997 financial crisis in Asia and subsequently he led restructuring initiatives, strategic assessments and provided input
to reform proposals. As a senior equity analyst with Credit Suisse, Bill led research on the three largest China financial
sector IPO's and is a leading commentator on the financial systems in the region. He is currently a partner in boutique
equity house, Aviate Global.

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 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

Suite 1207, Kai Tak Commercial Building, 317-319 Des Voeux Road Central, Hong Kong                                     Page 8
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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.

Mr. Peter Wong, 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 had his first child in Winter 2007. He is a columnist in the Hong Kong Economic Journal,
and his ideas have been published in other Chinese and English newspapers throughout the region.

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.

Dan Ryan sits on the Board of Directors with Founders Simon Lee, Andrew Shuen and Andrew Work and also with
Chairman Bill Stacey.

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.

Hans Mahncke, LL.B. (Hons.), LL.M., is an Assistant Professor at the School of Law at City University of Hong Kong.
His research interests include international economic and WTO law, as well as common law history and method. He also
teaches and publishes in these areas. Hans currently serves as a contributing editor to Halsbury's Laws of Hong Kong
and is a member of the editorial board of the Hong Kong Lawyer. He has sat as a judge in international mooting
competitions and serves as a reviewer for a number of law journals.

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