Jing Lee is a Hong Kong-based investment banker and lawyer. She has held senior management positions with various global financial groups, and has over 30 years’ experience of financial-market-related matters in the Asia-Pacific region.
Viewing the conflict between the US and China as a zero-sum ideological competition between democracy and autocracy overlooks the origin of China’s current governing tradition.
America’s own journey to power colours its perception of Chinese intention. What to Beijing is a defensive response to historical lessons is seen as a threat to US naval supremacy. More understanding on both sides can help prevent grievous policy miscalculation.
Instead of starting another cold war or falling into a Thucydides Trap, the US – and China – should rise above the kind of great power rivalry that has led to bloodshed in the past and instead address the perilous state of global affairs.
Unlike during the 2003 Sars epidemic, Hong Kong society is divided by protests and transformed by social media. There is panic and politicisation of the situation. The government must come through and lead Hong Kong though this crisis.
The market-driven model is unsuited to a world characterised by income inequality, pressure on the middle class, immigration crises and technological disruption. Hong Kong must revisit how it can make its relationship with the mainland work in the new era.