The chief executive suddenly announced that he would not run again because of family problems. There is a Chinese saying “improve yourself first, then manage your family, govern your state. That’s the only way to bring justice and virtue to the world.”
This means family is more important than the state. If a family is wrongly handled, how on earth can we govern Hong Kong?
As for the evaluation of CY Leung, let it be left to other people to say because the central government and Hong Kong people have different opinions.
Leung’s move has made the CE election next year even more heated. There are up to six suspected or declared candidates, but which one is the best?
As a senior finance professional, owner of a securities firm and an asset management company, I want all the candidates to hear my humble opinion.
Because this year saw a lot of black swans, so the international market is changing all the time. Therefore in the second half of next year the area’s economy can expect possible severe fluctuations, especially since Donald Trump was elected.
The global financial markets have changed hugely, with the dollar’s appreciation way above expectations. While US stocks continue to hit a new high, people have treated lightly the problems brought by the dollar.
But no one should forget the economic and financial market volatility for the past two or three years was a result of the sudden rise of the dollar.
And next year the US Federal Reserve has a good chance to speed up the pace of raising interest rates, which will drive an even more urgent rise in the dollar and pose Hong Kong with one more question – high property prices will face great pressure.
Trump is a threat to China, probably more than we estimate. It seems that he has a close association with Russia’s Vladimir Putin, and the president of the Philippines has also shown his friendliness to Trump, which could disturb the deployment of China in the area.
The dollar financial weapon is also to have its biggest impact on China, because the dollar has recently caused a huge outflow of Chinese capital, which is also adverse for Hong Kong.
Therefore, while all candidates hope to do something for Hong Kong, please don’t forget the status of Hong Kong as an international city, which is highly influenced by external factors.
Therefore I believe the new chief executive of Hong Kong must take care of its affairs and he/she needs a good grasp of the international situation.