The flip side of the coin, however, raises a counter question: why should Hong Kong be special compared to the rest of the country? And what should Hong Kong do to convince Beijing that this must be the case?
My answer to the question posed at the meeting was: “I do not think that Beijing intends to do this because it would not benefit either side.”
I think that realistically, because of the two-system arrangement, no other city in China can simply replace Hong Kong. But the question of how Hong Kong can justify that it deserves this special status is a big issue.
Hong Kongers have long been viewed by their mainland counterparts as money-makers – the city knew how to get rich, not only thanks to its good business acumen, but also thanks to its free and investment-friendly environment. To face reality, a concerted effort for economic development involving all stakeholders is now needed for Hong Kong to survive and grow.
Zheng’s message was telling: while reiterating Beijing’s unchanged pledge to maintain the “one country, two systems” policy, he called on Hong Kong to protect its unique features and keep them “unchanged.” These unique features – strong external connections, the rule of law and common law, and a rich culture – are what distinguish Hong Kong from its mainland neighbors, and the city should spare no effort to preserve them.
Lee remains optimistic about Hong Kong’s ability to navigate the difficult times. Remaining confident and being pragmatic are not mutually exclusive.
The debate over Hong Kong’s future, and whether it is truly “over” as some critics suggest, is likely to continue. But those who disagree with the doomsday narrative would do well to counter it with an actionable “Fat Choi” strategy and prove that it will not happen, just as it never has in the past, no matter how loud the naysayers were.
Ultimately, recognizing Hong Kong’s role as a “super moneymaker” and actually implementing it are two different things, especially against a backdrop of general geopolitical and economic uncertainties. As mainland China undergoes a paradigm shift toward high-quality economic development, the question of whether Hong Kong can turn headwinds into tailwinds during this difficult period may provide better answers.
