Hong Kong is no longer a Western playground – and it’s not looking back
Stephen Roach and his like-minded critics should let go of their fantasy of a bygone era. The city has already moved on
When it comes to bad prognostication, no one can beat Fortune, which came up with the mother of all “Hong Kong is doomed” narratives. In June 1995, the magazine ran its infamous “The Death of Hong Kong” cover story, predicting its demise following the 1997 handover to China.
Who can argue with that? You and I are very different from our younger selves. We all have to change and adapt. Not changing with the times in this day and age is positively suicidal, at least with your career.
As it is with people, so it is with cities. As mainland China emerges as a superpower, how can Hong Kong not change with the rest of the nation, and for the better?
Do you know what next-door Shenzhen was like in the mid-1960s when I was born? Well, it didn’t exist as an economic entity, and certainly did not register anywhere in the then global economy.