HK GDP/capita also grew 1320% between 1960 and 1980 when China trade wasn't really rocking. N Korea also borders and trades mostly with China and it didn't do them much good. Though if you want a counter example Singapore has had more state involvement in the economy and has done even better than HK.

One interesting area where HK has been very non laissez faire is in land ownership. Much of the prime real estate belongs to the government and they can raise money by reclaiming some land and selling it off or renting it out. Also works for Monaco where there is no tax but government controls the real estate. You could argue you could use the same model in the Bay Area to an extent - the government grabs some land, licences fancy blocks for tech workers, auctions off the land with planning permission to builders with the money going to the tax pool. Lower taxes and less accom shortage - win win overall apart from some neighbours complaining about their views.