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Opinion | A long-complacent Hong Kong must ditch outdated formulas to move forward

  • We have for too long relied on the opportunities facilitated by our close mainland ties, leaving us vulnerable
  • Hong Kong must recalibrate its trajectory, diversify its economy and secure a sustainable future in the global arena

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Hong Kong must understand and adapt to the requirements and demands of those with whom we seek to connect in this constantly changing environment. Photo: Shutterstock

The Policy Dialogue Series was launched under the auspices of the University of Science and Technology and Education University in 2018 to address Hong Kong’s complex issues and public policy challenges. It is deeply rooted in knowledge-sharing and pursuing open and constructive dialogue, fostering collaboration and innovation, proposing practical solutions and encouraging trade investment.

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I was invited to attend the sixth edition. The theme explored Hong Kong’s capacity to maintain and develop as a vibrant and liberal channel between mainland China and the international community in an increasingly polarised world.

We examined several of Hong Kong’s critical challenges, many intensified by external factors, particularly the tensions between Beijing and Washington. Hong Kong is caught in the cross hairs of an increasingly insular United States determined to counter China’s economic and geopolitical ascent. These tensions are compounded by global economic uncertainties and persistent military conflicts, which have far-reaching implications worldwide.

Like the rest of the world, Hong Kong has undergone significant change, but it remains a vital bridge between the East and West. However, it is imperative that we understand and adapt to the requirements and demands of those with whom we seek to connect in this changing environment.

Catalysts that drove change in recent years include the 2019 social unrest, and the Covid-19 pandemic and lockdowns, which resulted in substantial economic and reputational damage. Additionally, the introduction of the national security law in 2020 raised concerns about the city’s autonomy and protection of civil liberties. The resulting enactment by the US of the Hong Kong Human Rights and Democracy Act, and the ongoing economic threats supported by some US-allied Western nations have affected Hong Kong.
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These aggravating factors created a perfect storm, forcing business and political leaders to reassess, reimagine and embark on a process of reinvention to safeguard our economic future and the well-being of all our citizens.

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