Home Ed. 2019 September The Sinking of Hong Kong

The Sinking of Hong Kong

This article landed on my viber with no sender’s name. I want to share it to all of you because I found it possibly true.

It’s not that Hong Kong is no good, but the mainland has become too good

The sinking of Hong Kong is inevitable! Hong Kong is not without opportunities, but misses too many opportunities.

In the millennium, when there was a shift in manufacturing and entrepot trade, Hong Kong received several proposals for transformation.

In 1999, then Chief Executive, Tung Chee-hwa proposed the “Digital Cyberport” project to develop Internet technology.

We stand at that crossroad and look at the world around us. Google was just born in a private garage in California. It is far from being a listed giant then. Facebook and Twitter were still unknown. China’s Alibaba and Tencent were just small gangs of 10 people. Ma Yun was not a “dad”, he was just an ugly young man.

At that time, Hong Kong had the software skills, technology, talent, and capital, which of these were not stronger than that in the mainland?

However, the Internet was not taken up, and the Cyberport was turned into real estate development.

Later, Tung Chee Hwa proposed the “Dangang” plan. Taiwan’s Morris Chang, founder of TSMC, wanted to make chip manufacturing in Hong Kong. The people of Hong Kong resolutely opposed it by “speculating the land and speculating the price of the property” and engaged in a protest [against Article 23 of Basic Law]. As a result, Shanghai invited Morris Chang to take a stake in SMIC in Shanghai. It is now the largest chip manufacturer in China and the fourth in the world.

Later, Tung once again proposed the “Chinese Medicine Port” plan because Hong Kong has a strong scientific research system, as well as a large number of biological researchers and more importantly it has a quality inspection system recognized by the whole world. This proposal is a combination of production, education and research. However, again because of the short-sightedness of the city’s capitalists, Tung’s proposal was not adopted.

As a result, the Huada Gene appeared in Shenzhen across the river, and it has become a world-class genetic and biotech research enterprise.

From 1999 to 2005, if Hong Kong seized these three opportunities, Hong Kong would be the Asian Internet center, chip manufacturing center, and biotech research center.

In those years, what was Hong Kong busy with? The economy took a turn and Hong Kong turned to “financial, real estate, and service industries.” These industries went sky-high and housing prices skyrocketed. The so-called free fi-nancial trading port has brought a lot of hot money across the border. These capital hot money boosted HongKong economy. The booming economy however does not include the young people who see no way out and are full of anger. Finance and real estate are beyond the means of young people who are freshly graduated. Having no way to turn to and no means to start a business, young people turn to the streets and vent their anger at their former “poor relatives” Mainland China.

Today, the enemy of the Hong Kong economy is inside Hong Kong, amongst those financial oligarchs.

The financial profits have made Hong Kong rich but also spoiled Hong Kong.

The short-sightedness and prof-it-seeking of capitalists have made Hong Kong miss the best 10 years.

The rise of Shenzhen was due primarily to its economic policies, and secondarily to Hong Kong.

In the 1980s, the coastal area of Guangdong, represented by Shen-zhen, undertook a large number of manufacturing shifts from Hong Kong. Slowly Shenzhen began to accumulate and built up its wealth.

But the good days [for Shen-zhen] passed quickly. After 2000, the manufacturing industry has found a better place – a Southeast Asian country represented by Vietnam. However, Shenzhen quickly found its own path based on the accumulation of raw wealth transferred by the manufacturing industry [from Hong Kong] – scientific research and innovation, industrial upgrading, China’s Silicon Valley.

Hong Kong missed opportunity in the Internet, genetic biolo-gy, intelligent manufacturing, and transshipment logistics, were all taken up by the small fishing village on the other side of the river.

Many stars studded corporations were born –
● Tencent Internet company with a market value of nearly US$280 billion and 40,000 employees;
● Huawei, a technology company with a revenue of US100 billion and 170,000 employees;
● Huade Gene, with market value of 70 billion yuan, the world’s leading genetic biology company;
● BYD, a car manufacturer with a market value of 170 billion yuan and 220,000 employees;
● SF Express, logistics company with market value of 300 billion yuan, 340,000 employees,14 freighters, 16,000 transport vehicles, and 12,000 outlets Even in the financial and real estate industry in Old Port, which is 666, Shenzhen is also catching up, Ping An, Vanke, and China Merchants.

*A graduate of the Hong Kong University of Science and Technology, after 9 years, has achieved a product share of more than 70% of the world. Yes, this company is Dajiang , (DJI, drone maker) even more interesting is that this compa-ny is in Shenzhen, not in Hongkong.

*Through high-speed train and high-speed rail networks, Shen-zhen has connected Dongguan, Huizhou, Hongkong, Guangzhou, Foshan, Zhongshan and Zhuhai into a city platform. This is a giant economic cluster. Their future can rival the world-class Great Bay Area in San Francisco and Tokyo.

Shenzhen is a research and development center and headquarters for many corporations.

Dongguan is the manufacturing center with the most mature industrial workers in the world; Zhongshan and Huizhou are parts procurement centers; Yantian Port is a container center. Hongkong is not the only choice for such services, Shanghai and shenzhen could easily replace Hong Kong.

What is left for Hong-kong on the other side of the river [to Shenzhen]?

”Democracy’ shaped itself into an isolated golden bell [castiron shield], and when Hongkong looked at the rising small fishingvillage on the other side of the river, it began to panic, then stupidly blame the government, blame the chief executive, blame the Li [kashing] family, blame the return of Hongkong to China. Everything was some else’s fault.

Ignoring the opportunity of huge market of 70 trillion yuan, [Hongkong youth] took to the streets, playing politic is right. “It’s pitiful and pathetic!

The formerly closed ignorant Mainland China has becomes open and inclusive; Hongkong, which was open to freedom in the past, has become ignorant and closed.

In just a few decades, history has played us the biggest joke. Hongkong people have you woken up?

 By LUIS T. ARRIOLA