Hong Kong is not competitive?

Just read two recent articles on the Financial Times on Hong Kong’s sham competitiveness, especially within its own boundaries:

1. Hong Kong’s land system that time forgot — about how the government still profits from a colonial custom of land sales, and how this not-so-competitive system has created the most expensive property prices in the world.
2. Model economy’s quest to spread its riches — describes the Hong Kong market as so closed that even Walmart can’t get a foot in the door, and how Hong Kong’s real growth will happen beyond its borders.

Check ’em out.