China’s trade with a stronger or weaker Russia can only deepen, even as the fallout distracts the West from Asia. It is also an opportunity for China to push its Belt and Road Initiative while Hong Kong could become a resurgent player by catering to Russia’s banking needs.
While Shenzhen now rivals Hong Kong on some economic indicators, catching up culturally will be harder. Shenzhen must continue to develop its own character and not simply be an abbreviation of Chinese progress.