More than 99 percent of my time on this issue is consumed by the difficult task of trying to convince policy makers that tax competition, fiscal sovereignty, and financial privacy should be celebrated rather than persecuted.

FORBES: Why Tax Havens Are A Force For Good

Qantas Chief Executive Alan Joyce said Friday he expects competition to remain fierce in the fiscal second-half ending June 30 as more seats are added, though the situation should improve through the next financial year.

WSJ: Qantas Sees Boost From Easing Price War

Any new fiscal rules need to allow for tax and labor-policy competition.

WSJ: Review & Outlook: Blame It on Berlin

These are supply side reforms in fiscal (taxation, especially corporate taxation, and government spending) policies and pro-competition and pro-growth changes in restrictive regulations (especially with respect to labor, agriculture, and land use).

FORBES: With Kuroda Pledging to Do "Whatever It Takes" at BOJ, Abe Gets His Man

The 2011 Index of Economic Freedom, which is a joint project of The Heritage Foundation and The Wall Street Journal, ranked 183 countries based on 10 measures that evaluate such things as openness to trade and investment, government size, fiscal soundness, business and labor regulation, property rights, corruption, monetary stability and financial competition and transparency.

FORBES: Hong Kong Is Still The Best, China Must Do Better