Hong Kong after Covid and the 1999 riots

My time in Hong Kong was very condensed this year. My apologies to the friends I could not meet this time. Thanks also to the great students from the MBA programme of Hong Kong University and the GBA stream coming in from Shenzhen to participate in a 5-day intensive course on Turn Around Management and Corporate Restructuring. I had only one day to explore an Outer Island and chose Peng Chao to visit a long-time friend. The rest of the time I spent predominantly in Central. It was great to see fireworks again on National Day, celebrating the 74th anniversary of the foundation of the People’s Republic of China. Also, it is good to see Hong Kong’s economic situation slowly picking up. However, the city has a very narrow spectrum of industries and capabilities, which does not make it easy. Luckily, the connection to Shenzhen, the Pearl River Delta and Guangdong Province is fully open again. Furthermore, enthusiasm for the Greater Bay Area Development is picking up, and thanks to efficient management, the internal border between Hong Kong SAR and the rest of Guangdong is not so much an obstacle. Soon, taking your private car over from Hong Kong to the Mainland will also be possible. A friend told me how happy he is that he can then just drive over the bridge to his retirement apartment in Zhuhai. Less than 1 hour door to door.

The 1999 riots seem overcome. Without much drama, the local government could reinstall law and order, of course, with the support of Beijing. And I guess, Covid also played a role. Some people left on British Overseas Passports to the UK. But many tell quite miserable stories. Just imagine, instead of being in one of the centres of global innovation and growth, you decided to move to a semi-detached house in a shithole like Manchester, Birmingham, Liverpool or Glasgow. I would be miserable too. What worried me, was that many people told me that they expect a war with the US within the coming 5 years. The hope of many is that this can be contained in a naval conflict in the Pacific and outside the First Island Chain. The best option, of course, would be, not to have such a conflict at all. And I really hope at least the rhetoric could come down to make talks easier.

I ended my stay in Hong Kong, on the news of the horrendous attack of Hamas on Israel on October 7th. I was really surprised that they were able to prepare such a large-scale attack without being noticed. Also, in my mind, the cooperation between UAE, Egypt and Saudi Arabia was just going into a positive new phase. Hopefully, the safety in the invaded districts can be restored quickly. Then I assume Hamas will be ended now and forever. I just can’t imagine how terrible this will be in the densely populated Gaza Strip. And, of course, it could be possible that other players open a second front, like for example Hezbollah. Hoping for the best for my friends in Israel, Lebanon and Jordan. Especially those who just left Ukraine and Russia to make Israel their new home.

My trip ended with a Typhoon coming to Hong Kong. Signal number 8 is hoisted, potentially moveable structures are tied to the ground, windows are taped, and the city is waiting for the cyclone’s landfall nearby.