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The real problem is that Hong Kong existed as an arbitrage hub to an artificially closed hinterland during a political time warp, and when China finally opened
by pishpash 9y ago
The real problem is that Hong Kong existed as an arbitrage hub to an artificially closed hinterland during a political time warp, and when China finally opened up, Hong Kong's fate was already sealed. Hong Kong still has some first-world advantages to exploit, but the number is dwindling day by day.
- Mikeb85 9y agoThat's a nice concise way to put it, and spot on.
- unityByFreedom 9y ago> Hong Kong still has some first-world advantages to exploit, but the number is dwindling day by day. Beijing/Shanghai have yet to demonstrate the level of innovation that comes out of the Hong Kong/Shenzhen connection. And, parents still send their kids across the border in mainland China to go to school in Hong Kong. China may have opened up, and is continuing to open up more, but by no means are the gates fully open at Shanghai. Innovation still primarily comes from the south and regions that are farther from the federal government's base.
- dis-sys 9y agoFirst of all, there is no federal Chinese government, it is called the Central Government of China. There is no federation any time during China's history - the central government controls everything in every province, the power of any local administration is granted by the Central Government, directly or indirectly. Secondly, most innovations happen in Beijing, you can count whatever stats you like, such as # of patents filed, high tech start up numbers, VC funds and where they invest their $ etc. You'd be seeing more than half are in Beijing. To give you a very quick example: Xiaomi, Didi, Mobike and OFO are the 4 unicorns of China's internet industry, all headquartered in Beijing, their R&D are done in Beijing, these four have not gone IPO and the youngest worth $1B.