The View | First signs appear of a rising tide of young Hong Kong emigrants
‘City is struggling to remain relevant as anything more than a tourist destination and a place to launder money’
Imagine that in Hong Kong nothing will change economically and politically in the foreseeable future. Vested interests both inside the government and in the business sector stonewall any reforms. Flat affordability remains stubbornly impossible. Low interest rates will continue to fuel a rigged supply of residential flats.
Unrelenting political gridlock is permanent because no leader from Hong Kong or Beijing is motivated enough to lead the city into a full democracy.
Beijing won’t take the unhedgeable risk of granting the city the right to freely and completely choose its own leaders. Powerful forces and interests have worked hard and won much by promoting misinformation and ignorance. And the city’s despair will take on its own death mask.
According to a Chinese University of Hong Kong survey featured this month in the SCMP, about 40 per cent of Hongkongers want to move away from the city. One in 10 prospective emigrants is making actual plans to do so. Respondents cited dissatisfaction with the government, crowded living conditions and major and political and social disputes as the main reasons for their plan.
The survey showed that younger people had a stronger desire to move abroad than their older counterparts. About 57 per cent of those between 18 and 30 said they had emigration plans compared with just 26 per cent of those aged 51 and above. Taiwan was also the most preferred destination with 16.3 per cent of respondents picking the island. Australia and Canada came in second and third place.
No foreigner would ever relocate here for a senior position unless they received a housing allowance. That’s why there are so many listings for flats renting for HK$70,000 and more
Many of those looking to leave Hong Kong said factors such as larger living areas, higher democracy and freedom levels influenced their choices.