Editorial | Forget the hype about Hong Kong-Singapore rivalry, thriving Asia calls for collaboration
- Speakers at Post’s ‘China Conference: Southeast Asia 2023’ stress how all countries in ‘region of tomorrow’ can feel the economic benefit
It does not take much to hype the rivalry between Hong Kong and Singapore. A case in point was the exodus of local and expatriate talent amid prolonged pandemic controls and political change.
Many went to Singapore, which resumed normal life sooner. That prompted speculation Singapore was more competitive, but it obscured the bigger picture.
This was put into perspective by the first major overseas forum hosted by the South China Morning Post since 2019. Appropriately it was held in Singapore.
“China Conference: Southeast Asia 2023” focused on the relationship between the two cities, Hong Kong’s special status as a financial centre in the mainland’s continued opening up, and the opportunities this creates for Singapore and the whole region. What emerged is that their potential shared economic future is a far bigger pond to swim in than their rivalry.
Keynote speakers from both Singapore and Hong Kong said the perception of zero-sum rivalry was just hype that overlooked the two cities’ unique strengths as Asia’s key financial hubs. K. Shanmugam, Singapore’s minister for home affairs and law, said each benefited from the other’s growth, and “the suggestion that Singapore is supplanting Hong Kong gives too much weight to short-term factors”.
