My Take | Why Singapore is superior to Hong Kong in almost every way
- From the birth of the Lion City in 1960s Asia, a region that was up in geopolitical flames, to its struggle to become one of the world’s most successful economies, there is actually no comparison
Maybe Ronnie Chan can counter, as you would if you are a tycoon, that the capitalisation of Hong Kong’s stock market far exceeds that of Singapore or that the latter’s IPO market is minuscule compared to his city’s. Hong Kong has Disneyland, but hey, they have Universal Studios.
But all these comparisons are superficial.
The fundamental fact is that Singapore is a city state, rather than just a city. That means it has had to struggle with all the trials and tribulations, the dangers and pressure of statehood in a region that only grew richer and more stable in the last few decades. Indeed, the success of Singapore contributed greatly to regional and diplomatic stability and prosperity.
Hong Kong? Having grown rich under the tutelage of British colonialism, it has been protected and managed to prosper by riding on the coattails of an economically resurgent China. It has always had the Chinese hinterland to lean on.