Prosperity and Stability: Why Did Hong Kong Work?

Abstract

The current crisis in Hong Kong is characterized by a level of social unrest the city has not seen since the riots of 1967. In the aftermath of the previous round of turmoil, the British colonial regime regained legitimacy of its rule largely through the socioeconomic improvement of Hong Kong. “Prosperity and Stability” became the hallmark of Hong Kong’s success that extended beyond the 1970s into the period of political uncertainty in the 1980s. Socioeconomic development in the post-handover era stands in sharp contrast to the economic miracle of post-riot Hong Kong in the 1970s and 1980s. Post-handover Hong Kong has registered lackluster economic growth in most years, and growing income inequality is only exacerbating the situation for the average Hongkonger. Examining the current crisis beyond the protestors’ political demands, this talk explores how socioeconomic forces might have animated differently the various demographic groups in Hong Kong and questions whether political reforms alone could put an end to the conflicts in the city.