Responding to challenges requires a firm footing and an open mind
A poster reminding people not to gather is seen in Hong Kong, China, April 12, 2020. A large part of Hong Kong's economy remains focused on unproductive and sluggish sectors like real estate, finance, insurance, and hospitality. From the U.S. decision to end Hong Kong's special trading status to its blatant interference in Hong Kong affairs through the sanctioning of various officials, Hong Kong's recovery will need to navigate this antagonistic climate. Instead of looking to the West for solutions, whether political or economic, Hong Kong's best bet is to orient its economic and political future toward greater integration with the Chinese mainland. With its status as an international financial center intact despite its recent challenges, Hong Kong needs to build on its strengths to gain a foothold in the emerging digital economy.
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