Hong Kong, newly reopened to the world, is still plastered with posters celebrating the 25th anniversary of the territory’s handover to China: “A New Era.
Opportunity.” The first of those aims has been achieved, at very high cost.
The outlook for the other two, particularly the last, remains poor.
The city recently held a week of events—including a bankers summit drawing in the likes of Goldman Sachs Chief Executive Officer David Solomon and UBS Group Chairman Colm Kelleher .
The events were designed to celebrate the end of its self-imposed isolation and repair reputational damage from years of heavy-handed Covid-19 policies and the government’s decision to crush the political opposition following the antigovernment protests of 2019.