Cybernetics
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- Dec 31, 2016
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HK is a city controlled by the big real estate families. It actually has a lot of land to develop but certain laws prevents it. It would still be an important financial hub in the future but its relative edge would be eroded due to greater opening and development of mainland cities. The solution I see is better connectivity and mobility with the Mainland, quite a lot of talent comes from HK and the Mainland is a big market.I think the main problem of HK are very high housing price and lack of mobility of social class for young people. I hardly see anything related to those three protections you mentioned. But we HK people in fact protest a lots for many things.
Some rich people tend to lose their fighting spirit but would still build a moat to protect their assets which often hinders social mobility, eventually stagnating the economy. Pure capitalism in certain environments eventually extinguishes itself. Social and economic vibrancy comes from the grassroots.So long as HK government doesn't restrict building on the land, the high housing price is just a side effect of economical growth. But it is strange to lack of mobility among social classes. After all, HK is one of the freest place economically. Such a lack of mobility, without governmental restriction, could only be caused by affluence itself. As people get richer, their fighting spirit fades. Younger generations, which never experienced hardship, are so used to the wealth that they don't realize it is only the result of the hard works and daring ventures of their forefathers.