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Letter | Hong Kong has always overcome adversity. It's far from over

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I am writing in response to Stephen Roach's recent post dark comments on Hong Kong's economic situation (“Hong Kong government hits back after economist Stephen Roach gives advice to city”, June 5).
Roach, a prominent economist and former chairman of Morgan Stanley Asia, has expressed deep concerns over Hong Kong's future in recent months, citing a loss of political autonomy. economic struggles in mainland China and growing Sino-US tensions, major factors undermining the city's prospects. He described Hong Kong's current trajectory as very uncertain, even saying that “Hong Kong is over“.
His assertions provoked strong reactions from various quarters, notably from Hong Kong officials and Chinese state media. Many believe Roach's view is too pessimistic and fails to take into account the city's resilience and ongoing economic activities. For example, despite global market uncertainties, Hong Kong remained the fifth-largest IPO market in the world in 2023, ahead of financial centers like Japan, according to PwC's Global IPO Watch 2023.

Roach's view of Hong Kong is deeply shaped by his first-hand experience of the city's economic zenith. During his tenure at Morgan Stanley, Roach witnessed Hong Kong's remarkable boom years, characterized by rapid economic growth, thriving international trade and a robust financial sector. The city's dynamism and its strategic position as a gateway to mainland China have made it a global power.

However, in recent years, Hong Kong has faced significant economic downturns, exacerbated by political instability, mainland China's economic malaise, and worsening Sino-US tensions. This dramatic shift from prosperity to uncertainty has led Roach to take a more pessimistic view, as he now sees these challenges as potentially harming the city's future stability and growth.

However, I believe that such views do not reflect the true economic vitality of the city. It is crucial not to underestimate the tenacity of Hong Kong's talents and the resilience of its people. Their drive to succeed and ability to innovate in the face of adversity remain powerful forces that continue to drive the city forward, ensuring it maintains its global competitive advantage.

While it is essential to recognize the challenges highlighted by Roach, it is equally important to recognize the progress that Hong Kong continues to make despite these obstacles. The city has a historical habit of overcoming adversity. Its capacity for adaptation and innovation should not be underestimated.

Martin Cheng, Kowloon City

Are we marketing Hong Kong properly as a mega-event?

Having worked in advertising and marketing most of my life and having experienced the roller coaster of life in the always interesting Hong Kong, I wonder if we have lost our way and lost track of what this city has really needed.

There seem to be many mega-events, but as others asked, could less be more? (“Quality trumps quantity when it comes to mega-events,” June 9). Could we have more relevance and less randomness, avoiding events that come and go without any sustainability?

Without making it a book or a thesis on the basics of marketing, those who try to ensure that the “mega” Hong Kongs know who they are addressing and are they not content to shoot blanks and miss the main targets?

Or are we happy just talking to ourselves?

Hans Ebert, Wan Chai

The BJP was undoubtedly the biggest winner at the polls

I refer to the letter», “Narendra Modi’s BJP has won a victory that looks like a defeat” (June 7). Such articles are published after Modi's holiday won 240 seats even though we expected to win more than 300.
It is worth noting that in the Indian Lower House (Lok Sabha), midterm for A the simple majority is 272 seats, and in this election no other party reached three figures. Congress Day had the most among the others with 99 seats. And the opposition coalition, the Indian National Alliance for Inclusive Development, obtained 232 seats. In comparison, the ruling BJP coalition managed to win 293 seats, well above the 272 required to form the government. This is easily the winner.

However, your correspondent believes that Modi should step down. What logic is he asking for Modi's resignation? Modi is a world leader and his achievements as Indian Prime Minister over the last ten years are enormous – the list is too long to mention here.

By the time this letter is published, I am confident that Modi will already have make an oath as Prime Minister for a third term.

Dipak Kumar, Hung Hom

Warmongering speech during D-Day events is inappropriate

The commemoration in Normandy of 80th anniversary of the Landing it was about remembering the heroes who gave their lives during the Second World War, a war which is said to have caused the loss of more than 55 million lives.

While we promise that such a tragedy will never happen again, it is shocking to hear speeches drawing comparisons to the war between Russia and Ukraine, and various national leaders promising to continue fueling that war with more money and weapons.

If this reckless escalation continues, it could cause a death toll several times higher than that of World War II. American and European leaders should hold a referendum to allow their citizens to express themselves on this subject.

Michel Demuynck, Discovery Bay

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