The past will not deliver the future, and Hong Kong’s private sector must take on more direct responsibility, to identify and embrace today’s vastly different economic opportunities.
The global success of Korean bands such as Enhypen show how much soft power can do for a city or country’s cultural and economic standing. Hong Kong has the kind of authentic, home-grown culture the likes of Singapore can only dream of, and it’s high time to show it off to the world.
Hong Kong’s fundamentals actually put it in a position of unique strength. It’s the gateway to mainland China and the top clearing centre for the renminbi, while the city’s cosmopolitan charm is appealing to talent.
Australia’s ongoing failure to engage sustainably with China, and Asia in general, stems from its historic inability to build genuine trust with its regional partners. The Aukus pact proves to Asia that Canberra’s allegiances lie elsewhere. When Albanese visits China at the weekend, this will be the elephant in the room.
The financial travails of the West Kowloon Cultural District must not obscure the question of Hong Kong’s future as a global hub for creative arts. Much more must be done to nurture the arts ecosystem from the grass roots up and among younger generations.
Hong Kong can and should pioneer health and retirement solutions for the ageing Greater Bay Area, given its advanced insurance sector and healthcare reputation.
Offering young people open platforms for creative expression is a powerful means for the city to re-engage its future talent, and is also simply the best way to revitalise urban aesthetics.