A lot of people have predicted the long-term demise of Hong Kong. For the longest time, Hong Kong was the conduit to mainland China for the rest of the world. The argument goes that as China opens up, Hong Kong’s position will be diluted, and Shanghai will eventually overshadow the city.
I beg to differ. If we look at Hong Kong’s development on an absolute and not relative basis (to other Chinese cities), I believe it will benefit tremendously from China’s growth, the same way it has over the past few years. Language (officially trilingual), location (the harbor is an important asset), rule of law, servicing mentality, and universal education will give Hong Kong a competitive advantage sustainable for at least a couple of decades, if not longer.
Sitting between the East and West for decades, Hong Kong has the unique ability to penetrate both cultures. As such, its position will be enhanced and not diminished as China opens up to the world.
Such is the opinion of a Hong Kong native (disclaimer!).
