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Vanuatu had a lot to offer - such as great offshore banking! Vanuatu is also a part of the group of countries that will continue to provide good tax competition (harmful according to the OECD) because they have no income tax and no company tax! :) I don't see why small countries can't work. In fact, I prefer small countries for the increased jurisdictional competition that it creates. In the case of Vanuatu, they have had stable and functional democracy since independence and consistent economic growth. Kudos to them!
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