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In hindsight, the phenomenal numbers notched up in 2018 can hardly be healthy or sustainable, considering the small size of the city, the paucity of attractions and the lack of diversity of tourists.
China’s swimming team only started competing in the Olympic Games in 1988, and won its first gold medal in the women’s 100m freestyle competition in 1992. Since then, China has produced many gold medallists in swimming, with the majority coming from Jiangsu and Zhejiang provinces, as well as Shanghai. How did China pull off this amazing feat and why have most gold medallists come from the coastal areas of the country?
National industrial strategies, the subject of intense study and debates in the 1980s in the wake of the phenomenal success of Japan’s industrial economy, have returned to the centre stage of global attention. Much of this stems from the fact that two of the world’s largest economies, the US and China, have focused more on industrial policy.
That was around 2016. Musing over Hong Kong’s growth possibilities and looking westward towards Hong Kong’s outlying islands from his West Kowloon flat, Akers-Jones quipped that the next chief executive would have many ribbons to cut at opening ceremonies of major infrastructure projects, and many islands to develop if the city needed more land. Akers-Jones spoke from experience. When British administrators needed to intervene in the markets to boost growth, infrastructure-led development did the trick.
Hong Kong has 14 ETOs across North America, the United Kingdom, Europe, Japan, Southeast Asia and Australia. They were established in accordance with Article 156 of the Basic Law, which provides that “the Hong Kong Special Administrative Region may, as necessary, establish official or semi-official economic and trade missions in foreign countries”. The history of Hong Kong’s overseas representations on trade and economic issues goes back a long time, well before becoming a special administrative region.
A framework agreement for deepening cooperation between Guangdong province, Hong Kong and Macau was signed on July 1, 2017. Almost seven years on, development in the bay area plan is bringing about profound changes to Hongkongers’ lifestyle and the economy.