Advertisement
Opinion | Hong Kong’s own talent hold the key to telling Hong Kong’s story better
- High-profile events announced to the world Hong Kong is back. Going beyond the glitz, measures to attract global talent aren’t enough
- We must believe in the ability of our own talent to transform our city yet again, and act quickly to persuade our young people to stay
Reading Time:4 minutes
Why you can trust SCMP
6
Milton Friedman, recipient of the 1976 Nobel Prize in economics and an advocate of free-market capitalism, was of the view that government intervention tends to make things worse. While Friedman’s position might have been apt during his time, what Hong Kong needs now is active government intervention, especially in the realm of talent retention. We can ill afford to wait and see how the economic situation might unfold.
Advertisement
At the much-heralded financial summit in Hong Kong earlier this month, our city’s leaders reinforced the message that Hong Kong is back. That same week, tens of thousands of fans flocked to the Hong Kong Stadium for the first rugby Sevens since the Covid-19 pandemic began. After almost three years of isolation, Hong Kong is clearly eager to be seen again on the world stage.
Yet, there is much more to be done than simply staging to great fanfare events that bring little benefit to the general public. Following sustained pandemic restrictions and an exodus of talent, we have lost ground to rivals such as Singapore. Crowing about the triumphant return of the Hong Kong of old will not reverse our fortunes, at least not overnight.
Hong Thai Travel Services, one of the city’s iconic travel agencies, is closing its doors, in a damning sign of economic stagnation. No one should be shocked by its demise.
Advertisement
Throughout its history, Hong Kong has been defined by its liveliness and connectivity: from the public transport network that connects all corners of the city, to the cornucopia of world-class eateries that open till late.
Advertisement