søndag 16. juni 2019

China delivers Hong Kong’s existential moment

Is Fortune magazine finally right about Hong Kong’s demise? In June 1995, the fabled business publication raised this most provocative of questions with a “Death of Hong Kong” cover story. It explored how the city’s return to Communist Chinese rule two years later, in July 1997, might wreck the “world’s most aggressively pro-business economy.” Since then, the Hong Kong elite and expat bankers have reveled in Fortune’s spectacular misfire. Yet the events of recent days highlight troubling dynamics that the magazine – and others, surely – feared two decades ago.