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I think hks importance is extremely arguable. Hks gdp is barely 3 percent of china's with a stalling growth rate. I've worked in both Shanghai and Hong Kong and

I think hks importance is extremely arguable. Hks gdp is barely 3 percent of china's with a stalling growth rate. I've worked in both Shanghai and Hong Kong and I can say a lot of the large cities are much much nicer in China now. You also have a lot things like hackathons and events where you see lots of young creative people who really want to make things. In Hong Kong the culture is more towards looking good in a suit and networking, a side effect of the dominance of financial industry. Personally I think that ship has long sailed and it's not particularly anyone's fault.

loyukfai 7y ago
Not everything can be measured by GDP though. For instance, HK can become a buffer point or backup plan should the trade war further escalates. Not to mention that many CCP members have a lot of investment in Hong Kong, a collapse of the HK economy, should the PLA be deployed, would be quite problematic. But I generally agree with your observations.
adventured 7y ago
Hong Kong's importance to China isn't its GDP contribution primarily (although it is special vs China when it comes to per capita performance; Hong Kong packs a lot of economic punch in a small package). It's the special relationship Hong Kong is still granted globally on trade & finance, particularly with the US. China desperately requires dollars to keep its debt problems floating and to interact with the global economy (relatively little is settled in Yuan outside of China's borders). Without a steady inflow of dollars China cannot function normally; their economy would seize up. Hong Kong is a critical inflow port for US Dollars into China's economy and is largely spared from the tariff war. This is why Hong Kong is so important to China right now, and it's also why China has been so careful in suppressing the protests (by their standards). China is afraid of the US changing Hong Kong's special status. People often don't think China can be swayed: the US slapped currency manipulator status on them, and they immediately backed off from letting the Yuan sink, carefully pegging it just inbounds near the 7 line.
fragmede 7y ago
It's not what you're wearing, but how you're wearing it. Culture is more than the rack (or tailor) you buy your suit from. If you choose to wear one. Things like personal space and not spitting in public and not having to kowtowing to whomever is the current President, are things some hold dear. Others may not. Other still, may look to the past and ask: what started on 15th April, 1989 and ended on 4th June 1989, in Tiananmen Square, and elsewhere in China?
whoevercares 7y ago
Let’s face it. Hong Kong is effectively a backdoor. It’s a great place for almost anyone rich enough to do money laundering like stuff. For example, when mainland tightened its currency exchange control, people still transfer money via HK in someway. It’s sometimes disgusting
- ackbar03 7y ago
  Yes I agree. That's partly why for me, despite living in Hong Kong and having worked in finance I don't really mind if some of these people get washed out in the process.
  - greedo 7y ago
    That's a horrible metaphor...
throwaway1997 7y ago
The very people who are in charge of the mainland have a lot of money that they want to either park in the west or hedge against the house of cards that they are building. There is currently only one route for this money to go and rolling in the tanks will inconvenience way too many powerful people.

loyukfai 7y ago

Not everything can be measured by GDP though. For instance, HK can become a buffer point or backup plan should the trade war further escalates. Not to mention that many CCP members have a lot of investment in Hong Kong, a collapse of the HK economy, should the PLA be deployed, would be quite problematic. But I generally agree with your observations.

adventured 7y ago

Hong Kong's importance to China isn't its GDP contribution primarily (although it is special vs China when it comes to per capita performance; Hong Kong packs a lot of economic punch in a small package). It's the special relationship Hong Kong is still granted globally on trade & finance, particularly with the US. China desperately requires dollars to keep its debt problems floating and to interact with the global economy (relatively little is settled in Yuan outside of China's borders). Without a steady inflow of dollars China cannot function normally; their economy would seize up. Hong Kong is a critical inflow port for US Dollars into China's economy and is largely spared from the tariff war. This is why Hong Kong is so important to China right now, and it's also why China has been so careful in suppressing the protests (by their standards). China is afraid of the US changing Hong Kong's special status. People often don't think China can be swayed: the US slapped currency manipulator status on them, and they immediately backed off from letting the Yuan sink, carefully pegging it just inbounds near the 7 line.

fragmede 7y ago

It's not what you're wearing, but how you're wearing it. Culture is more than the rack (or tailor) you buy your suit from. If you choose to wear one. Things like personal space and not spitting in public and not having to kowtowing to whomever is the current President, are things some hold dear. Others may not. Other still, may look to the past and ask: what started on 15th April, 1989 and ended on 4th June 1989, in Tiananmen Square, and elsewhere in China?

whoevercares 7y ago

Let’s face it. Hong Kong is effectively a backdoor. It’s a great place for almost anyone rich enough to do money laundering like stuff. For example, when mainland tightened its currency exchange control, people still transfer money via HK in someway. It’s sometimes disgusting

ackbar03 7y ago
Yes I agree. That's partly why for me, despite living in Hong Kong and having worked in finance I don't really mind if some of these people get washed out in the process.
- greedo 7y ago
  That's a horrible metaphor...

throwaway1997 7y ago

The very people who are in charge of the mainland have a lot of money that they want to either park in the west or hedge against the house of cards that they are building. There is currently only one route for this money to go and rolling in the tanks will inconvenience way too many powerful people.