Category: Hong Kong

Hong Kong’s Economy at a Crossroad

Today, Hong Kong faces great economic uncertainty and unprecedented market volatility. Recently, Hong Kong’s financial secretary John Tsang Chun-wah warned that the city’s economy is facing its “worst time in 20 years.” In the past half a decade, growth has more than halved close to 2.5 percent. With Brexit chills, analysts expect a contraction.

However, the writing has been on the wall since the global financial crisis. Yet, critical decisions have been delayed.

Growth engines fading

What Happened to the Umbrella Movement?

In November 2015, Hong Kongers went to the polls for the first time since an uprising of pro-democracy sentiment gripped the city during the Umbrella Movement in late 2014. The district council elections drew a record 47 percent turnout rate, but neither the pro-establishment camp nor the mainstream opposition turned this high turnout in their favour.

Therefore, where did the increased ballots come from and where did they go? In addition, what does this mean for the Legislative Council elections later this year?

How Much Does Hong Kong Need China?

In the past, so the legend goes, Hong Kong feared nothing. Today, the city seems frozen by its obstacles. Can it change, once more?  In a recent commentary, I argued that, in the absence of a radical new growth strategy, Hong Kong is facing an eclipse.

What is Driving Hong Kong Growth Now?

Hong Kong’s growth has eclipsed, says Dan Steinbock. Without an aggressive growth strategy and China’s innovation, the city’s living standards will deflate.

“We are looking at a new normal, at the current level, at about 2-4 percent,” Financial Secretary John Tsang said recently. That may prove to be an understatement.

The Danger of Hong Kong’s Stalled Progress with Beijing

The Occupy Movement has seen the political awakening of a large segment of the Hong Kong community. The massive outbursts of political protests lasted 79 days, testing the limits and will of the Hong Kong people and government. Hong Kong–mainland relations are in a downward spiral of mistrust and confrontation and movements towards reconciliation remain out of sight.

With Occupy Central Over – Is Beijing Winning or Losing Hong Kong?

On the morning of 11 December, in front of hundreds of cameras, police cleared the main protest site in Hong Kong. Ten 10 weeks of the pro-democracy Occupy Central movement, that at its peak attracted over 10,000 protesters, ended. Beijing can now happily claim a hard-won victory.  However, in reality, Beijing is losing Hong Kong.

Will the UK Play a Part in Hong Kong’s Future?

China’s foreign ministry recent barring of a British parliamentary delegation from entering Hong Kong in response to pro-democracy protests has raised significant questions on the UK’s role in Hong Kong.

Hong Kong Stalemate Still Firmly in Place

After weeks of protests, the protracted stalemate in Hong Kong doesn’t appear to be over. While the Occupy Central movement has brought together civil society groups to protest for democratic change, the movement lacks active participation from the political side. Progress cannot be made unless the Occupy Central movement engages with the political community.