Until now, very few people have taken much notice of the Summary Reform and Development Plan for the Greater Pearl River Region since it was made public in December. This is an important official document, formally approved by the State Council, and lays out the development blueprint for Hong Kong, Macau and nine other cities in the region until 2020.
Many Hong Kong people still perceive their city to be an island in the South China Sea, and refuse to become another Chinese metropolis. This is, of course, wishful thinking: the direction of Hong Kong's economic development and its positioning in this region is fixed into the regional economy of the nine plus two cities.
With the onset of the global financial crisis, this might even be our salvation, at least for the short term. We can consider ourselves lucky: the other East Asian tigers - Taiwan, South Korea and Singapore - all suffered double-digit negative growth in the first quarter of the year. Hong Kong's gross domestic product fell by only 7.8 per cent in the same period. Having been an advocate of regional economic integration for the past two decades, I am pleased with this development blueprint. We must adopt a wider vision, with regional and national development in mind, or risk losing out on a share of the windfall. Should that happen, Hong Kong would become an insignificant second-class Chinese city. Of course, we don't want that to happen.
Now that the general direction is set, I no longer worry about regional economic integration. My new fear is that Hong Kong will focus too much on mainland opportunities to the point of losing its competitive advantage in the region and in the country. By then, we would have lost our vitality and our unique contribution to regional and national development. There would be no winners if this were to happen.
Hong Kong has always been, and will continue to be, an open city with a cosmopolitan outlook and international connections. Sad to say, for the past two decades, our local citizens have become far too inward-looking. We are not interested in anything that happens outside Hong Kong. In contrast, if you open any newspaper in Singapore on any day, you will invariably find one or two news items about Hong Kong. But, typically, reports on Singapore, Hong Kong's major economic rival, feature maybe less than once a month in the local press, most of it infotainment. Singaporeans keep a close watch on Hong Kong and benchmark every move we make. No wonder it eclipses Hong Kong in many areas.
In the aftermath of the global downturn, China will soon surpass Japan as the second leading economy in the world. It will be the growth engine for East Asia and for the world. China urgently needs a major international gateway now, not a decade later. Despite all the hoopla and policy incentives, Shanghai is clearly not up to it at the moment, and Hong Kong is perhaps the only choice. Given its historical relations with the Association of Southeast Asian Nations, Hong Kong is arguably even the preferred gateway.
We have to break away from our navel gazing and regain our presence in the international arena. This is the rationale behind one country, two systems, and the Basic Law has specifically made provisions for that. Clearly, the central government does not want Hong Kong to become just another Chinese city either, because this would do nobody any good.
The opportunities are there, but it is up to us to seize them. The authorities in Beijing and Guangzhou will be more than happy to see us taking up the role as the country's economic gateway to Southeast Asia, and will do everything to assist us in this direction. Quality employment and high growth should not be a problem for Hong Kong.





