Hong Kong use to be one of our colonies, as late as the 1990s – an event that shaped the people there, in more ways than one. But nowadays, the citycan be seen closely aligning itself with its neighbouring China. Hong Kong saw protests nationally for an open democracy a few months back and now it is feeling the effects of knowing nothing about change in the world, about changing the world.
There are property markets at one end of the land, that have been bogged down by the protests as visitors think more about where to go for shopping, fluctuating retail space rents, as a result. This is happening as the global financial crisis sees a spurning of unemployment rates, as people walking through this concrete land of steel and glass, feel the full-effects of the emergence of the mainland closeby.
Since the end of British rule in 1997, Hong Kong is regionally tied to mainland China, with a tiny city being controlled by a mammoth land, despite their political differences and their separatist agenda, for economic reform. American interest rates still fix the mortgage rates, rather than the Chinese rates, but there is good news at hand because Hong Kong, after all, is a harbour city.
Trade ties here, depend a lot on the sail of American and European goods, rather than nearby Chinese goods. A lot of the visitors from mainland China come to Hong Kong for travel and business purposes, and this figure is seeing a slow-increase, if you put the episode of the protests aside.
A greater propel in demand for luxury goods in Hong Kong needs to follow, like that of in China, for the economy to benefit from. China is also receiving this economic reform proposals warmly it seems, as talks of HSBC, following it’s name and shifting its head office from London to Hong Kong gain steam, and China opens its doors to foreign investors, with more than plain-sailing interest in brokerage commerce areas in Hong Kong.Embed from Getty Images