David Dodwell

Outside In | On Hong Kong’s economic recovery, John Lee must beware of overpromising and underdelivering

Economic relief from reopening will take time to gather momentum amid global uncertainties and with the wounds of 2019 still fresh

With encouraging macroeconomic data unlikely to emerge before the end of the year, impatience in promising an imminent recovery is almost certain to backfire

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Why you can trust SCMP

Chief Executive John Lee speaks at the Asian Financial Forum at the Hong Kong Convention and Exhibition Centre in Wan Chai on January 11. Lee promised to “go fast” on the city’s return to normal. Photo: K.Y. Cheng

David Dodwell

Published: 8:15am, 14 Jan 2023Updated: 10:46am, 28 Jan 2023

Ask any good corporate public relations consultant for the cardinal rule in company communications, and the answer is likely to be: “Underpromise, overdeliver.” However strong the urge to sell a positive story, executives should beware the temptation to “overegg” performance or forecasts. Falling short will only disappoint and breed scepticism.

Never has this sage counsel rung truer than for Hong Kong Chief Executive John Lee Ka-chiu’s “result-oriented” administration. And, by this measure, he and senior colleagues are listening to dubious counsel. Lee, addressing the recent Asian Financial Forum, conceded that global economic uncertainties would weigh on the city but its future remained bright because of Beijing’s support.

“Rest assured, we’ll go fast in a safe and orderly manner towards our shared goal of everything resuming as normal as soon as practicable and possible,” he promised, adding that he and colleagues would be “running” around the world after the Lunar New Year to promote Hong Kong.

I was reminded of Financial Secretary Paul Chan Mo-po, who last month portrayed himself as an artist and called on Hongkongers to “make good use of colour to paint a brighter future”.

One can feel sympathy. And I am part of the community that retains confidence in Hong Kong’s long-term prospects. But impatience in promising an imminent recovery is almost certain to backfire. Too many people worldwide remain wedded to a negative narrative for Hong Kong that is regularly refreshed by international politicians and pro-democracy activists whose views seem more readily trusted than those of Hong Kong officials.

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Lee may wish otherwise, but the deep, self-inflicted wounds of 2019 remain only partly healed, not just among those who fled on British National (Overseas) passports, but also many still here. The legacy of incompetence and procrastination that soured attitudes to the previous administration has yet to be purged, despite encouraging efforts by Lee’s administration.

Outside In | On Hong Kong’s economic recovery, John Lee must beware of overpromising and underdelivering

Economic relief from reopening will take time to gather momentum amid global uncertainties and with the wounds of 2019 still fresh With encouraging macroeconomic data unlikely to emerge before the end of the year, impatience in promising an imminent recovery is almost certain to backfire

Economic relief from reopening will take time to gather momentum amid global uncertainties and with the wounds of 2019 still fresh

With encouraging macroeconomic data unlikely to emerge before the end of the year, impatience in promising an imminent recovery is almost certain to backfire