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President Xi signals HK government must live up to people’s expectations
- ggm 4y agoMy dad used to say "contented cows give more milk" and in like sense having profited from the HK special economic zone, the Chinese government knows how quickly it can lose the benefits in human capital, as Hong Kongs entrepreneurs move away. 260,000 homes short of affordable housing stock is a big deal. Couching this as a social contract also reminds us that the CCP do in fact govern at the consent of the people. It may not feel like it to outside eyes, but internal opposition is not always met with lead bullets. If the property bubble explodes and the wealthy middle classes lose their shirts and the Chinese working poor don't get housed, it can go bad very quickly.