As someone lived in Hong Kong for quite a while (during the tail of its heydays) but now in the US, Hong Kong is indeed in big trouble. But not for the reasons mentioned/implied in this article. It's very easy to buy into narratives such as authoritarianism vs democracy, communism vs capitalism, China vs Britain/West, tight control vs freedom as the reasons for Hong Kong's decline, but that's just short-circuited thi…
Very interesting. It touches on something I've been thinking about lately. The book Why Nations Fail [1][2] makes an argument very similar to yours that there are two factors that determine (economic) success of a nation: 1) inclusive economic systems and 2) inclusive political systems. They argue that these can form a virtuous cycle where they enhance themselves. However, if nations don't have inclusive systems, the…
Also, titans of economy should not be given the reins of running the country, no matter how qualified they might be. They already have a lot of power. In poorer countries, political ascendants are shot dead. In the US, you have attack ads, smear campaigns etc.