I was amused to read in the Hong Kong Standard that:
Peer Steinbrueck, stated at a EU finance ministers meeting that once the EU had dealt with the non- cooperative tax havens in Europe, it would invariably need to turn its attention to tax havens further afield including Macau, Singapore and Hong Kong.
Apart from disagreeing strongly with being designated as tax havens as opposed to low tax jurisdictions with strong banking secrecy laws, these Asian banking centers need to be concerned
This is just misinformation. Low tax jurisductions with strong banking secrecy laws are tax havens.
These places should get the message: we've had enough of their dissembling. The reality is that these places are centres for the organised crime of tax evasion. We know it. They know it. And no one is willing to put up with it any more.