Travel Reference
In-Depth Information
The State of Play
Hong Kong has witnessed much political strife since the turn of the decade. Critics of the
Government have focused on a long list of increasingly intractable issues, from slow demo-
cratic reform and the perceived collusion between the government and big businesses, to
stifling property prices and the perceived drain on public resources by mainland migrants.
The involvement of Běijīng's Hong Kong-based proxies around Leung Chun-ying's ascent
to the top post in town marks a definitive dynamics shift in the local political landscape, and
serves as an ominous forewarning of worsening political turbulence.
While many hope that Leung can turn his populist overtures into action, for instance, by
providing more social housing, the combination of divisive party politics and the lack of a
democratic mandate has caused many to condemn the Government as a weak one, and hope-
lessly so when faced with vested interests as strong as the largest developers.
Basic Economics
Inflation hit a 16-year high in 2011 and, while it may have slowed down since, the truth is
that for many, Hong Kong has become a depressingly expensive place to live. The costs of
living are racing ahead of spending power, and punters even have to pay double for the lux-
ury to dream about winning the lottery after the price of a Mark Six ticket went up to
HK$10 in 2010. Hong Kong has more billionaires than most countries, but many more
struggle to meet fairly basic levels of subsistence. Despite reasonable economic growth in
the past few years, Hong Kong's economy has become increasingly reliant on the financial
sector and the spending power of mainland tourists.
A New Era
There's a prevailing mood in Hong Kong today that the city has passed its heyday. Once
savvy and confident, many Hong Kongers are worried about what they see as Běijīng's at-
tempt at homogenisation. To stimulate growth, the Hong Kong Government has allowed
more mainland Chinese to travel to the city, which breeds even more discontent among crit-
ics as mainland tourists dominate shopping areas and tourist attractions. But despite the gen-
eral mood of anxiety, all is not doom and gloom. If anything, the multiple challenges that
are confronting the city are stirring a strong spirit among many people to defend their core
values (namely, the rule of law and civil liberties), and to actively define who they are,
rather than who they're not.
