Hong Kong was once a prosperous 20 years ago, but its economic stagnation is dwarfed compared to the Rise of China, even to a point that I see where neighboring Providences like Guangzhou and Shenzhen is equal or better than Hong Kong in terms of technological innovation and lack of economic integration to Hong Kong.
Let’s be accurate here, the Rise of Hong Kong in the years leading up to Hong Kong is because China was opening up and Hong Kong was the gateway to the world, not because of British rule. Now that China has already opened up to the world, it no longer needs Hong Kong to be its gateway. Because of this, much of the economic prosperity has been bypassed by China. For example, Hong Kong was innovative when it used Octopus cards for Cashless Payments. China has eclipsed Hong Kong’s innovation in Mobile Payments yet Hong Kong largely failed to adopt them.
Another Criticism of Hong Kong’s government is that they try to bolster up its existing industries like tourism, financial hub, services, and retail instead of trying to create new industries like IT, health and renewable energy. In fact, much of Hong Kong has not been built up like in the New territories like what it has been built up in the southern parts like in Kowloon and Hong Kong Island. The new Chief Executive Carrie Lam doesn’t have the priority is not doing this, but rather try to fix the housing problem.
Another problem is with its Lego failed Hong Kong because of political deadlock which failed to implement many legislation but instead there was lots of political infighting. In fact, much of Hong Kong has been trying isolate themselves of “International City” instead of integrate with China as a gateway to Hong Kong’s economy. Until then, Hong Kong will probably flounder for the next 20 years.
Western analysis usually misses the point of the transition of 50 years. It’s a transition of Hong Kong back toward China, not the other way around. The 2 systems are suppose to merge together, not diverge as wishful thinking, or even more ridiculous that China will be more like Hong Kong. Obvious Hong Kong has the problem of affordable housing as in every major city, the influx of rich Chinese from mainland further complicates the problem. The solution involve more cheap housing for indigents and higher taxes from the rich, an obvious socialism policy, which the Hong Kong elites abhor. Education reform and more emphasis on Mandarin vs Cantonese, opening up opportunities in mainland. Instead of feeling slighted the young people should apply themselves more in the competitive world. Day dreaming of independence is a dead end, as is also hoping to be point men of Western imperialism.
I think there have too much negative news about HK, not saying that they don’t exist. We have heard of people lining up and camping overnight for the latest gadgets all over the world. How often do you see that people camping overnight for tickets to visit a warship. If you look it up, the crowds in HK that visit PLA installations in HK always outnumber the protesters in yearly June 4th protest but this always never make the news in western MSM.
And last but not least, 6 openly anti China legislators in HK were disqualified with nary a complaint from the public. Public opinion is overwhelmingly in support of the court ruling. This would be unimaginable 10 years ago.