Implode-o-Meter News - China is Hong Kong's future -- not its enemy

Much has changed since 1997. The Chinese economy has grown many times, the standard of living of the Chinese likewise. If you want to access the Chinese market nowadays, why move to Hong Kong when you can go straight to Beijing, Shanghai, Guangzhou, Chengdu and a host of other major cities? Hong Kong has lost its role as the gateway to China. Where previously Hong Kong was China's unrivalled financial centre, now it is increasingly dwarfed by Shanghai. Until recently, Hong Kong was by far China's largest port: now it has been surpassed by Shanghai and Shenzhen, and Guangzhou will shortly overtake it.
Two decades ago westerners comprised the bulk of Hong Kong's tourists, today mainlanders account for the overwhelming majority, many of them rather more wealthy than most Hong Kong Chinese. Likewise, an increasing number of mainlanders have moved to the territory -- which is a growing source of resentment. If China needed Hong Kong in an earlier period, this is no longer nearly as true as it was. On the contrary, without China, Hong Kong would be in deep trouble.

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China is Hong Kong's future -- not its enemy | Martin Jacques