Speaking about HongKong and Tung Chee Hwa, here's my 2
cents.
One cannot be simplistic in comparing Hong Kong before and after
China took over. Bear in mind that when China took over in 1997,
the same year financial crisis struck Asia and HK was hit in no way
lighter than any other country.
In my humble opinion HK has actually done very well. What they were
facing were much worse than Singapore:
1.Properties prices went down. Shenzhen and other Chinese southern
cities grew stronger and really threaten their position. Many HK
people now go to these places for properties.
2.Ports in Guangzhou, Zhuhai etc are taking away HK business.
3.Taiwanese can now go into China via Macau, hence reduce reliance
on HK airport.
4.HK have to continue to depend on trade, services and finance,
without manufacturing.
5.Shanghai threatening their financial center position.
With so much against them, they have done well. Tung Chee Hwa has
really done his best. What is interesting to see is that the people
of Hong Kong are moving a step further, pushing for more political
freedom. Under more than 150 years of British colonialism, Britain
has never allowed HongKongers to choose their own governer. We see
year after year ppl take to the streets. They are evolving!
In Singapore, the ruling government is still afraid that any strong
opposition will jeopardise our political stability and their
position in Singapore, any political rally will frighten away
investors. Hate to say this but the PAP just refuses to evolve with
the times.
