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I am quite surprised that the Chinese have allowed the crony capitalism that the Hong Kong Government system is based on to continue unabated. The continually

by ddeck 7y ago

I am quite surprised that the Chinese have allowed the crony capitalism that the Hong Kong Government system is based on to continue unabated. The continually rising levels of inequality that it has generated have been an obvious risk to social stability for a long time, which presumably the CCP are very keen to maintain. The government and press regularly celebrate achieving the title of "Freest economy on earth" (top place for the last 25 years). What is less frequently mentioned is that Hong Kong tops the Economist's Crony Capitalist Index, ahead of Russia in second place. [2] With respect to the British, the structure of the government (functional constituencies etc.) can certainly be traced back to them. And as highlighted this SCMP article that examines the cozy business/government relationship in light of the protests [3]: The roots of Hong Kong’s entangled ties between business and politics can be traced to the city’s colonial history, when hometown business elites were also local community leaders, endorsed and endowed by administrators with influence and leadership roles. In the city’s first post-colonial administration after 1997, businessmen made up eight of the 11 non-official members of Tung Chee-hwa’s cabinet. The ratio was little changed at 70 per cent under Tung’s successor Donald Tsang Yam-kuen, falling to half during Leung Chun-ying’s term from 2012 to 2017. [1] https://www.info.gov.hk/gia/general/201901/25/P2019012500772.htm https://www.info.gov.hk/gia/general/201901/25/P2019012500772... [2] https://en.wikipedia.org/wiki/Crony-capitalism_index#2016 https://en.wikipedia.org/wiki/Crony-capitalism_index#2016 [3] https://www.scmp.com/business/article/3025260/developers-cosy-ties-politics-may-explain-hong-kongs-biggest-woe-widening https://www.scmp.com/business/article/3025260/developers-cos...

FabHK 7y ago
> I am quite surprised that the Chinese have allowed the crony capitalism that the Hong Kong Government system is based on to continue unabated. Eh? You have a similar crony capitalist system in mainland China, don't you. And the understanding in HK is that there is sort of tacit "gentlemen's agreement" between Beijing and the HK elites: Beijing doesn't interfere too much with the rich and powerful in HK and their (continued) ability to rake in money, while those rich and powerful refrain from supporting or advocating for more democracy etc. In other words, both sides are pretty interested in the continuation of the status quo.
- ddeck 7y ago
  You do indeed, but the the power distribution is far from even, as many a Chinese tycoon has discovered when they've come out on the wrong side of Beijing and found themselves in prison. There are always laws that can be selectively brought to bear when required. My point is that the rich and powerful in HK are unlikely to do anything that irks Beijing. They don't need to be bribed into cooperating and will do as they are told regardless. The risk to social stability of the status quo and the liklihood of it putting a significant portion of the population on the streets protesting seems a much greater risk.

by ddeck 7y ago

FabHK 7y ago

> I am quite surprised that the Chinese have allowed the crony capitalism that the Hong Kong Government system is based on to continue unabated. Eh? You have a similar crony capitalist system in mainland China, don't you. And the understanding in HK is that there is sort of tacit "gentlemen's agreement" between Beijing and the HK elites: Beijing doesn't interfere too much with the rich and powerful in HK and their (continued) ability to rake in money, while those rich and powerful refrain from supporting or advocating for more democracy etc. In other words, both sides are pretty interested in the continuation of the status quo.

ddeck 7y ago
You do indeed, but the the power distribution is far from even, as many a Chinese tycoon has discovered when they've come out on the wrong side of Beijing and found themselves in prison. There are always laws that can be selectively brought to bear when required. My point is that the rich and powerful in HK are unlikely to do anything that irks Beijing. They don't need to be bribed into cooperating and will do as they are told regardless. The risk to social stability of the status quo and the liklihood of it putting a significant portion of the population on the streets protesting seems a much greater risk.