onsdag 28. august 2019

Can China’s Government Replace Hong Kong?

As the Hong Kong protests enter their fourth month with no end in sight, on August 18 Beijing announced that the nearby Chinese metropolis of Shenzhen would again become a new type of special economic zone. In a clear message to Hong Kong, the plan claimed Shenzhen would serve as “an example of law and order and civilization.” Hong Kong has long been China’s financial and trade gateway to the region and the world. But that status may be eroding.

How much does Hong Kong matter to the economic health of mainland China, and how has that changed recently? What economic benefits do Hong Kong’s relatively free and independent media, court system, and financial markets bring to the rest of the country? In what ways might Shenzhen and Shanghai supplant Hong Kong? And what about Singapore?