July 2, 2022
1 min read

Once Asia’s World City, Hong Kong is just another Chinese city now

Halfway into the 50-year grace period, Hong Kong is already unrecognisable to many.

Just 25 years after the handover, Hong Kong is no longer the world’s freest economy and has plummeted in global press freedom rankings following a citywide crackdown on dissent under the national security law, RFA reported.

On July 1, 1997, the British flag came down for the last time in Hong Kong, as the city returned to Chinese rule.

The ruling Chinese Communist Party (CCP) under Deng Xiaoping had promised it could run its own affairs under “one country, two systems,” with the city’s freedoms preserved for at least 50 years, and with progress promised towards fully democratic elections.

The reality has been rather different. “People who stayed are like the frog in a pan of gradually warming water,” economist Law Ka-chung told RFA.

“Maybe some of them think everything’s fine, but others see a huge difference.”

Today, not a single promise made by Chinese leaders before the handover has been kept. Halfway into the 50-year grace period, Hong Kong is already unrecognisable to many.

Hong Kong Stock Exchange

“Since the National Security Law came in, there’s a lot of things you can’t say any more; a lot of things you can’t write; even people you can’t interview,” former Stand News journalist Lam Yin-bong told RFA.

The last races under British rule took place in June 1997. More than H.K.$2.5 billion in bets were placed.

Under “one country, two systems”, China promised that “the horses will run as usual, and people can keep on partying”.

Now, people’s lives may appear similar on the surface, but what was once the world’s freest economy no longer gets its own separate trading status, RFA reported.

Once known as Asia’s World City, Hong Kong is seen as just another Chinese city now, RFA reported.

“Important stuff like politics, the economy, used to be very different from mainland China,” Law said. “The way we collected data, our stock market.”

“But it all changed gradually until there was no difference at all.”

ALSO READ: Britain not giving up on Hong Kong, says Boris Johnson  

Previous Story

Ukraine needs ‘hard work, determination’ to join EU: Von der Leyen

Next Story

Pakistan protests over India’s blocking of Twitter accounts

Latest from -Top News

Bangladesh’s Dark Side Unveiled in Geneva

Organised by diaspora activists, the exhibit exposed rising rights abuses in Bangladesh post-Hasina…reports Asian Lite News In a bid to spotlight the deteriorating human rights situation and rising persecution of minorities in

India Outpaces Peers in Morgan Stanley Outlook

Global investment firm reaffirms India’s status as top-performing economy in latest growth outlook…reports Asian Lite News India is set to retain its position as the fastest-growing economy among nations tracked by Morgan

Debt deals, austerity still rule Colombo

IMF approves $350 million t ranche as island nation sees early signs of recovery, but challenges persist amid ongoing reforms and rising public discontent….reports Asian Lite News The International Monetary Fund (IMF)

Pakistan misses export target

Pakistan misses export target for 2024-25 despite modest growth, with rising imports widening the trade deficit and prompting urgent cost-cutting measures across key sectors….reports Asian Lite News Pakistan has fallen short of

Patriot test for every Hongkonger

Wider impact hits eateries, schools, media, tourism—raising fear, weakening autonomy Beijing has intensified its national security measures in Hong Kong, moving from the idea of “patriots administering” the region to demanding that
Go toTop

Don't Miss

Xi is ‘more powerful than Mao’ in his third term

Through the 20th National Congress, the Chinese Communist Party (CCP)

Chinese firms involve in continuous tax evasion in Bangladesh

Some media reports suggest that the port authorities/ customs were