Sanguine thinking was that over time Hong Kong would change the Mainland in its own mould. China feared the territory's rapacious capitalism as much as it coveted the rewards of the process, later refashioned with socialist characteristics. But there the fairytale ended.
The city has weathered the passing storms across the border with varying success. Yet, confidence in its own government has eroded. But another stark response was visible in the immediate 300 per cent rise in the stock value of Next Digital Limited as people voted with their wallets. Greed is the reason lazily motoring post-handover administrations failed to respond to the city's glaring socioeconomic and political needs. The protests have been a sobering chapter. Talk of affordable housing has rightfully crept back into the official lexicon and this is to be welcomed.
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Source: BusinessTimes - 🏆 15. / 51 Read more »