Hong Kong must reindustrialise to reinvent its economy
- With neighbour Shenzhen poised to pull ahead, Hong Kong needs an economic transformation of its own: it must end its reliance on the financial industry
- The city should focus on creating rewarding, good-paying jobs that benefit more than a few by upgrading its workforce and developing a new manufacturing sector based on science and technology
Heiwai Tang is professor of economics and associate director of both the Asia Global Institute and the Institute for China and Global Development at the University of Hong Kong. Prior to joining HKU, he was tenured associate professor of international economics at Johns Hopkins University. He is also affiliated with the Federal Reserve Bank of Dallas in the US, the Centre of Economic Studies and Ifo Institute (CESIfo) in Germany, and the Globalisation and Economic Policy Centre in the UK as research fellow. He has been a frequent consultant to the World Bank, International Finance Corporation, United Nations, and Asian Development Bank.