Nov 19 2012: It is a noble idea and a very good one to kick start a discussion.
Apologies for pointing the negatives. But it is impractical purely for the very reason of its establishment - the ECONOMIC one. It will cost a lot more to replicate a city in a developed country than a developing one.
The scenario under consideration is too narrow - using a singular outsourcing issue from a particular country. As this would mean creating many different CICs for each outsourcing issue (eg. China for mfg, etc.)
Also, will these SEZ areas be dynamic as to adopt other currencies as other countries come up with cheaper and better solutions/services in future (eg. Vietnam, Myanmar, etc.).
Then there is this whole arena of Political Will and considering soft costs (eg. environment pollution control costs, parallel economy costs, etc.)
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A comment on Conversation: Idea: "Country-in-a-country" special economic zone
Apologies for pointing the negatives. But it is impractical purely for the very reason of its establishment - the ECONOMIC one. It will cost a lot more to replicate a city in a developed country than a developing one.
The scenario under consideration is too narrow - using a singular outsourcing issue from a particular country. As this would mean creating many different CICs for each outsourcing issue (eg. China for mfg, etc.)
Also, will these SEZ areas be dynamic as to adopt other currencies as other countries come up with cheaper and better solutions/services in future (eg. Vietnam, Myanmar, etc.).
Then there is this whole arena of Political Will and considering soft costs (eg. environment pollution control costs, parallel economy costs, etc.)