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This "way of life" was unsustainable anyway, because of the property prices and the de facto feudal system with the tycoons on top. You can rage at the red flag

by rado 6y ago

This "way of life" was unsustainable anyway, because of the property prices and the de facto feudal system with the tycoons on top. You can rage at the red flag all you want, but ideology has nothing to do with it. HK life was almost unbearable before all this.

PakG1 6y ago
Hong Kong not being able to diversify its economy beyond real estate and finance disabled it from having strong leverage. The Hong Kong that was rich enough to support Sichuan after the 2008 earthquake is now arguably less economically dynamic than Beijing, Shanghai, Guangzhou, and of course its neighbour, Shenzhen. Hong Kong was in a weak position unable to dictate terms to Beijing. And I think Beijing of course prefers that. I think there is a lot of schaedenfreude in the hearts of mainlanders also, as Hong Kong people used to look down on mainlanders, especially when the HKD was worth so much more than the RMB. I remember people complaining how mainlanders would break toilets by squatting on them because they didn't know how to use sit-down toilets. China's basically like, "Look at me. I am the captain now."
magicsmoke 6y ago
HK has both the worst parts of a democracy and autocracy. It's got 35/70 seats in the legislative council made up of undemocratically appointed business interests that vote to preserve their profits at the expense of HK's inhabitants. Meanwhile, the handover treaty ties the hands of any autocrat that tries to reform the city's governance to better enable wealth redistribution from its finance firms. None of the representativeness of a real democracy but all the red tape of one. All the turmoil over this past decade's been over which side of the hill HK will start sliding down, democracy or autocracy. But given that the PRC will never let HK slide towards democracy now, maybe it's best they slide towards autocracy as fast as possible. Tear up the democratic red tape protecting corrupt business interests and start redistributing its wealth to the people via autocratic means.
srtjstjsj 6y ago
Is China any more sustainable?
- rado 6y ago
  Yes, because e.g. it invests in infrastructure on an unprecedented scale.

by rado 6y ago

PakG1 6y ago

Hong Kong not being able to diversify its economy beyond real estate and finance disabled it from having strong leverage. The Hong Kong that was rich enough to support Sichuan after the 2008 earthquake is now arguably less economically dynamic than Beijing, Shanghai, Guangzhou, and of course its neighbour, Shenzhen. Hong Kong was in a weak position unable to dictate terms to Beijing. And I think Beijing of course prefers that. I think there is a lot of schaedenfreude in the hearts of mainlanders also, as Hong Kong people used to look down on mainlanders, especially when the HKD was worth so much more than the RMB. I remember people complaining how mainlanders would break toilets by squatting on them because they didn't know how to use sit-down toilets. China's basically like, "Look at me. I am the captain now."

magicsmoke 6y ago

HK has both the worst parts of a democracy and autocracy. It's got 35/70 seats in the legislative council made up of undemocratically appointed business interests that vote to preserve their profits at the expense of HK's inhabitants. Meanwhile, the handover treaty ties the hands of any autocrat that tries to reform the city's governance to better enable wealth redistribution from its finance firms. None of the representativeness of a real democracy but all the red tape of one. All the turmoil over this past decade's been over which side of the hill HK will start sliding down, democracy or autocracy. But given that the PRC will never let HK slide towards democracy now, maybe it's best they slide towards autocracy as fast as possible. Tear up the democratic red tape protecting corrupt business interests and start redistributing its wealth to the people via autocratic means.

srtjstjsj 6y ago

Is China any more sustainable?

rado 6y ago
Yes, because e.g. it invests in infrastructure on an unprecedented scale.