The Intelligence from The Economist Out like a Lam: Hong Kong’s new leader
May 10, 2022
James Miles, a China expert for The Economist, discusses the election of John Lee as Hong Kong's new chief executive. He highlights Lee's law-and-order stance and his close ties to Beijing, raising concerns about governance and political dissent in the region. The conversation also touches on the entrepreneurial resurgence post-pandemic, as individuals seek new opportunities, and updates regarding Ukraine's cultural impact at the Eurovision Song Contest amidst ongoing conflict. A mix of politics, economy, and resilience makes this discussion a must-listen.
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China's Long-Term Goal
- China wants to prevent future unrest like 2019, even if businesses complain.
- By 2047 (50 years after handover) they envision Hong Kong resembling a mainland city.
Pandemic Entrepreneurship
- The pandemic unexpectedly boosted entrepreneurship across the rich world.
- This contrasts with declining entrepreneurship before the pandemic.
Diverse New Businesses
- New businesses range from high-tech startups to traditional mom-and-pop shops.
- One example is a fitness instructor whose YouTube business thrived.