Former chairman of Morgan Stanley Asia, Stephen Roach, addressed concerns about the future of Hong Kong during a speech at the Foreign Correspondents’ Club. Roach highlighted the need for Hongkongers to preserve the city’s unique identity amidst increasing political pressures.
Roach emphasized the importance of constructive criticism and the ability to speak truth to power, even in the face of censorship or political influence. He expressed pessimism about Hong Kong’s economic prospects, suggesting that diversification and new technologies could be key to future growth.
However, Roach warned that the city’s close ties to mainland China could hinder its ability to recover independently. He called for mechanisms to encourage autonomy and independent policy initiatives to break these economic linkages.
Despite the challenges facing Hong Kong, Roach commended the city’s resilience and the creative ideas he had encountered during his visit. Ultimately, Roach urged Hongkongers to protect the city’s distinct identity and stand up for what makes it truly special.