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The search for greatness

Reading Time:3 minutes
Why you can trust SCMP
Anthony Cheung

Mao Zedong once said that 'there's a time when it has to rain, and there's a time when a woman has to get married'. There is no reason why people in Hong Kong should be upset by, or shocked at, news that Disney will be developing a much larger theme park in Shanghai.

In commercial terms, it's no surprise that Disney, despite its fairy-tale image, is going after profit. Setting up business in Shanghai, one of the fastest-growing cities on the mainland - and the wealthiest - is but a natural course of action to get closer to where the market is. Any why shouldn't Shanghai compete with Hong Kong?

Hong Kong has been too obsessed with Shanghai catching up ever since the reunification with China. Many people here were unhappy when former premier Zhu Rongji compared Hong Kong to Toronto instead of New York.

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But, rather than expressing outrage and feeling slighted, Hongkongers should ask themselves: how should Hong Kong behave or act if it really does aspire to be the New York of China?

This question is not adequately addressed by the city's status as a leading global financial hub, after New York and London. It is also a cultural question. New York, as the greatest melting pot of America, symbolises the spirit of liberty and entrepreneurialism.

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If people are worried about being outcompeted by Shanghai, they have to ask what comparative advantage Shanghai enjoys over Hong Kong and why Hong Kong has lost its edge. There is no use just moaning and groaning.

So, what does Hong Kong symbolise as part of the Chinese nation? Because of the unique features of its journey of reunification, there has been a lot of talk about the city being different and separate from the mainland under the 'one country two systems' framework.

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