Lee Kuan Yew on Hong Kong westernized ruling class

[Song Hong]

Lee Kuan Yew prophetic predictions on Hong Kong come true.

***************

He takes an equally dim view of the pro-democracy movement in Hong Kong. 'Do Hongkongers realise who butters their bread?... [Former Hong Kong chief secretary Anson Chan] took a position which is not tenable. She opposed China. She thought the British system, democracy, American support, they can maintain 50 years. Rubbish.'

https://www.scmp.com/article/742178/hard-truths-keep-singapore-going

 

[8888888888888]

Depends if any Chinese city can emulate HK, if it can than HK is screwed if it cannot than HK is safe.

 

[Song Hong]

Everywhere in China is taking over roles of Hong Konger, leading to her relative demise.

Shanghai takes finance. Shenzhen assumes the role of China Silicon Valley. Guangzhou takes logistics. The entire Pearl River and Yangtze River delta take manufacturing.

Now Macau may eat Hong Kong lunch, in financial activities--that is regulatory proscribed in mainland.

Depends if any Chinese city can emulate HK, if it can that HK is screwed if it cannot that HK is safe.

 

[8888888888888]

Everywhere in China is taking over roles of Hong Konger, leading to her relative demise.

Shanghai takes finance. Shenzhen assumes the role of China Silicon Valley. Guangzhou takes logistics. The entire Pearl River and Yangtze River delta take manufacturing.

Now Macau may eat Hong Kong lunch, in financial activities--that is regulatory proscribed in mainland.

Speaking of Macau that city is safe because no Chinese city will be granted a license to open casinos like Macau.

 

[Song Hong]

Also Lee Kuan Yew attributed HK businessmen as rent seekers.

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http://www.ejinsight.com/20150121-lee-kuan-yew-lessons-for-hong-kong/
But he regretted the fact that the second and third generations of their families have lost their heads in a rush to reap quick property gains since the 1990s.

Lee mentioned Li Ka-shing in one interview and pointed out that Li’s conglomerate was unable to create a single hit product that could be sold worldwide.

Li’s business empire of real estate, ports, supermarkets, telecommunications firms and public utilities was just built on “following the trends to enter the most profitable sectors rather than foresight or innovation”, he said.

Lee’s remarks can sometimes be slightly off the mark, but looking at Hong Kong’s economic fundamentals, it’s safe to say that outside the property sector, the city has very little to show in the way of prize assets on a global scale.

Many offspring of the city’s business titans — usually resourceful and well educated — choose to remain in the comfort zone of the property sector, when they should have leveraged their capabilities to venture into new domains.

The Hong Kong economy as a whole is thus encumbered with the periodical vicissitudes of the property sector, while Singapore has cultivated vibrant pharmaceutical, electronics, oil refining and petrochemical industries at its carefully planned Jurong Industrial Estate and adjoining artificial island.

He cites Anson Chan Fang On-sang, the first post-handover chief secretary, who resigned from her post in 2001, as an example to support his contention that any attempt to shield Hong Kong from Beijing’s interference, to reason with Beijing for more democracy or to preserve the colonial way of doing things is bound to be futile.

The writing was already on the wall when the Union Jack came down in 1997.

 

[Paul2]

Lee Kuan Yew prophetic predictions on Hong Kong come true.

***************

He takes an equally dim view of the pro-democracy movement in Hong Kong. 'Do Hongkongers realise who butters their bread?... [Former Hong Kong chief secretary Anson Chan] took a position which is not tenable. She opposed China. She thought the British system, democracy, American support, they can maintain 50 years. Rubbish.'

https://www.scmp.com/article/742178/hard-truths-keep-singapore-going

He says little about HK. He himself barely spoke Chinese. Not a man from whom I will hear about this and that being too Westernised. Singapore's economy has nothing much to show either, were not for banks and WTO arbitrage prior to 2001 they wouldn't have been that big.

I think nothing tells more of his vision of "success" as seeing Singapore's best and brightest leaving the city for mainland China.

 

[ohmrlobalobayeh]

He says little about HK. He himself barely spoke Chinese. Not a man from whom I will hear about this and that being too Westernised. Singapore's economy has nothing much to show either, were not for banks and WTO arbitrage prior to 2001 they wouldn't have been that big.

I think nothing tells more of his vision of "success" as seeing Singapore's best and brightest leaving the city for mainland China.

你的观点怎么像只井底之蛙呢？

 

[Menthol]

What is the worldwide famous product came from Singapore??

Creative Sound Blaster was dead.

The only left is Irvine's Salted Egg Fish Skin snack.

Also Lee Kuan Yew attributed HK businessmen as rent seekers.

**********************
http://www.ejinsight.com/20150121-lee-kuan-yew-lessons-for-hong-kong/
But he regretted the fact that the second and third generations of their families have lost their heads in a rush to reap quick property gains since the 1990s.

Lee mentioned Li Ka-shing in one interview and pointed out that Li’s conglomerate was unable to create a single hit product that could be sold worldwide.

Li’s business empire of real estate, ports, supermarkets, telecommunications firms and public utilities was just built on “following the trends to enter the most profitable sectors rather than foresight or innovation”, he said.

Lee’s remarks can sometimes be slightly off the mark, but looking at Hong Kong’s economic fundamentals, it’s safe to say that outside the property sector, the city has very little to show in the way of prize assets on a global scale.

Many offspring of the city’s business titans — usually resourceful and well educated — choose to remain in the comfort zone of the property sector, when they should have leveraged their capabilities to venture into new domains.

The Hong Kong economy as a whole is thus encumbered with the periodical vicissitudes of the property sector, while Singapore has cultivated vibrant pharmaceutical, electronics, oil refining and petrochemical industries at its carefully planned Jurong Industrial Estate and adjoining artificial island.

He cites Anson Chan Fang On-sang, the first post-handover chief secretary, who resigned from her post in 2001, as an example to support his contention that any attempt to shield Hong Kong from Beijing’s interference, to reason with Beijing for more democracy or to preserve the colonial way of doing things is bound to be futile.

The writing was already on the wall when the Union Jack came down in 1997.

Actually HK as a whole is like this.

There's no worldwide hit product.

The HK movie industry is fallen as well, left behind by Hollywood who is always innovated.


Then the young people protest over the no hope for their situation and future...

While the older generation is depending on them to create hit products to save HK future... that is why the older generation puts emphasis on education, science, and creativity.

All the hope is lost.


HK future will depend on the outside factor... so their stock market and property price are floated.