China and Hong Kong and the GBA – the Golden Opportunity

One world two systems is a phrase I took from Deng Xiaoping’s famous phrase for Hong Kong and Macao.

 

While Hong Kong has been tearing down its modern city, it is becoming clearer to all that the core social problems have been created by a system that for 170 years has been giving too much benefit to the big businesses. The wealth has been inadequately shared. The government has been over influenced by business and not looked after the people.

 

It is becoming clearer that the remedies can only be found in Hong Kong finding accommodation and jobs in a fast modernising Greater Bay Area. The Hong Kong government will act.

 

The British tycoons of Hong Kong had understood the need for a different approach several years ago and spoke up early on in the troubles. The Hong Kong tycoons responded in different ways and with a different sense of the changing nature of the priorities for Hong Kong for the next 30 years.

 

Carrie Lam will return to Hong Kong refreshed and committed to change. Within 3-5 years the experiences of this year will be largely forgotten as Hong Kong works with Shenzhen to build a vast modern metropolis across the Greater Bay Area. This plan is not new. I heard about it in 1994, which means it had been in the planning for 10 years. In fact it is the natural next step after the Shenzen Special Economic Zone of 1984 and the Shenzen Free Trade Area of 2016.

 

Hsbc can be the bank of the GBA which makes so much sense of its new management direction of its Acting CEO.

 

And for the UK the GBA is every bit as much a top priority as it is for Hong Kong.

 

I see a golden opportunity here.

 

I hope the UK Ltd I dreamt of when I merged the 48 Group with SBTC in 1990 to form CBBC may begin to materialise. We need unity of action and an end to sectarian business policies and conflicts of interest. Cbbc can lead a new chapter for the UK under Sir Sherard’s new chairmanship.

 

The UK banner should be a golden opportunity to match the Chinese one of a golden era. They are looking at the UK. We are looking at China.

 

Stephen

 



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