A tour of the weird places the global elite hide wealth

A few weeks ago, at a campaign event in Georgia, Donald Trump unveiled his latest scheme to bring back the glory days of American manufacturing. Under his next presidency, he explained, the United States would “steal” jobs from other countries by creating “special zones of federal land with ultra-low taxes and regulations”, which would be “ideal spots for relocating entire industries” from overseas.

Special economic zones, where governments relax certain taxes and laws in the hopes of luring factories, are nothing new. Hundreds already exist in the United States for the narrow purpose of sparing exporters from customs duties. Many thousands more can be found elsewhere around the world, in large part because poorer nations have for decades leaned hard on them as a tool to attract business.

Washington Post