Can business and politics mix, in the US under Trump, or in Hong Kong?

Like nearly everyone, I was surprised by the election of Donald Trump as president of the United States. I don’t remember any election that has produced such strong emotions or uncertainty. His victory is a warning that the world really is changing. Hong Kong is not alone in experiencing anger about high housing costs, influxes of outsiders, declining opportunities and rising inequality. In much of the developed world, it seems people have lost confidence in mainstream leaders and economic policies.

Without angry voters, it is hard to see how someone like Trump could have been a serious contender. He has no experience in government, and he made some outrageous remarks during the campaign. In particular, there are huge questions about whether he can handle both public office and his business activities.

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Here in Hong Kong, the public and media are always on the lookout for politicians who might have conflicts of interest. Chief executive Tung Chee-hwa cut himself off from his family’s business when he took office – and has stayed away ever since, just to be sure.

Trump’s business connections are on a totally different level. He has a property and hotel empire that is inevitably exposed to US government policy on issues like tax and labour. In other words, his future decisions as president could directly affect his own businesses’ profitability. Indeed, it is hard to see how they cannot. He has major holdings overseas, in countries including Turkey, Saudi Arabia, India, South Korea and the Philippines. His own foreign policy decisions could potentially affect those businesses. In some cases, his foreign investment partners are connected with politicians or political parties.