Sunday, August 25, 2013

The End of HK Tycoon Era

Link to the non pay wall version.

The answer to Li Xueying question is in Beijing. Eventually one country two systems will become only one system and that would not be the HK system.

How would that make HK a competitor to us? I think the right question would be to replace HK with Shanghai, which would be quite a different creature. Meanwhile HK will do whatever it takes to survive. Her greatest fear must be closing the gap between the immediate neighborhood of China and itself. Unless the Chinese government and SOEs are targeting them, the tycoons would be more than well. The rest of Hongkongers just need to look across the border to see the future. Not very attractive.

I do not need to be politically correct here. A HK facing tumultuous change and instability would benefit Singapore. Hongkongers disdain for us have turned into envy.

What do I care about the tycoons unless their money can shared around? Readers love to read about the rich and famous and newspapers try to oblige them.

Just as property tycoons replaced textile taipans, something else would come along and take over. More likely the Chinese would creatively expropriate the tycoons' wealth when they are no longer politically useful and worse socially liable. The perfect excuse for replacing them in the path to turning two into one Chinese system. Meanwhile just let the Hongkongers stew till they begin to worry more about bread and butter issues than politics and freedom. Of course I am oversimplifying the issue or there is simply too much to write.

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