Vicious Rants of an Angry Yellow Man

Yesterday was the 20th anniversary of Hong Kong going back to China.  The last time I went back to Hk, 10 years ago, things were stable.  The territory continued to grow.   The infrastructure and business climate were amazing.  While the government answered to China, the press was free and people went about their lives as if nothing much had changed in 10 years.

I do not have time to go back this year but I understand there has been lot of changes.  Obviously there has been protests about losing freedom in HK.  They were mostly political protests.  But there are also anxiety in HK about the economy.  On the surface, HK is still growing.  Its vibrant climate is still the envy of most of the world.  But there are signs of problems.  Shanghai's port is way bigger than that of HK now.  More of world finances are going to Shanghai, Beijing and other cities in China.  In 1997, China, with a much bigger population, had a GDP that was only 7 times that of HK.  Today it is 35 times larger.  Whereas most developed countries invested in China through HK 20 and even 10 years ago, most of them have direct lines into China now.  China used to depend on HK investment, now mainland Chinese are buying up properties and companies on HK. 

China's investment in Hk is a double edged sword.  It keeps the economy humming but the prices of properties in HK is so high from China's money that ordinary HK people can't afford decent housing anymore.  All these have led to anger over China.  But unlike Taiwan, which has its own military force, HK is at the mercy of the big bear from the north.  Hong Kong people are resilient.   In the past, despite brain drain to U.S. and Canada while under British rule, the colony prospered to where its per capita income exceeded those of its British master.  But it is hard to imagine HK can shake the grasp of China unless China itself becomes democratic.  So I have a feeling if China tighten its grip on freedom of HK, there will be more brain drain out of the territory.

I was stunned by the decision of the Pacquiao fight last night.  I had not watched the Pacman's fights in the past because I was too cheap to buy pay for view.  So I was happy that ESPN was televising the fight.  It is a good move for boxing to get some future stars on free tv.  Otherwise it is losing the next generation to MMA.  By getting Pacman on, it should have helped promote future fights on the network.   But boxing shot itself in the foot last night.  The Pacman won by 4 rounds on my card and that of the ESPN analyst.  But the judges all voted for Horn.  One guy had Horn winning by 6 rounds!  Horn fought a good fight and the two fighters made an enjoyable fight.  But ridiculous decisions like this will further hurt boxing.