- In a survey of members of the American Chamber of Commerce in Hong Kong released last month, 42% of the 325 respondents said they were considering or planning to leave the city, citing uneasiness over China’s new security law and a pessimistic outlook of Hong Kong’s future.
Dozens of international companies have moved regional headquarters or offices from the city since 2019, government data show. That has contributed to the highest rate of commercial real estate vacancies in 15 years, with more than 80% of the vacant space surrendered by international companies, data compiled by Cushman & Wakefield show. All told, more people—expatriates and locals—departed the business hub in 2020 than any year since the global financial crisis.
George Friedman likes to argue that it isn't the strong dictators that flex and crack down on dissidents, it's the weak ones.
- Under China’s long-term plan, Hong Kong will become part of a 70 million person “greater bay area” economic zone that includes the neighboring tech city of Shenzhen and the gambling mecca of Macau.
Not consulted for this plan: Hong Kong, Macau