Opinion | 4 ways Hong Kong can shape its future – and the world’s
World

Opinion | 4 ways Hong Kong can shape its future – and the world’s

Economy World



Nearly three decades after its return to Chinese sovereignty, Hong Kong is once again at an important crossroads. The recent decision by the United States not to renew “The President’s Executive Order on Hong Kong Normalization” has once again focused international attention on the city’s future. For some, it represents another chapter in the geopolitical competition between Washington and Beijing. For Hong Kong, however, it should also serve as a reminder that its future cannot be defined solely by how others perceive it.

As Hong Kong approaches the 30th anniversary of its return to China next year, it has an opportunity to redefine its place in a world undergoing profound transformation.

The rise of China, the rapid development of artificial intelligence (AI), shifting patterns of globalisation and an increasingly fragmented international order are reshaping the geography of power. Rather than asking whether Hong Kong’s traditional role can survive, the more important question is what new role the city should play.

Hong Kong’s future rests not on a single identity but on four mutually reinforcing ones: a global financial capital, an international education hub, an innovation and technology base, and, perhaps most importantly, a global governance centre.

The first identity is familiar. Despite political unrest in 2019 and years of geopolitical tension between China and the United States, Hong Kong has shown remarkable resilience as one of the world’s leading financial centres. Rather than disappearing, its role has evolved. It serves as China’s international financial gateway, connecting mainland capital with foreign markets. The city also plays a critical role in enabling investment between China and emerging economies, particularly across the Global South and countries that are part of the Belt and Road Initiative.

Far from diminishing Hong Kong’s financial significance, today’s geopolitical environment may strengthen it. As financial systems fragment, Hong Kong’s ability to operate simultaneously within China’s development strategy and international finance becomes an increasingly valuable advantage.

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