To some people, this question is obvious. Hong Kong is one of the world’s greatest cities, almost on par with New York and London, basically “Asia’s World City,” according to them. But they are wrong. While this may have been true a long time ago, maybe even up to 15 years ago, despite what some people profess, Hong Kong is not and is actually moving further and further away from being a world city every single day. There are experts who have made this claim and they look at macro-political, economic and governance factors, but I think just looking at society tells its story.
Now Hong Kong is a top financial hub. It is also unique as a city-state that has its own flag, currency, administration, police, educational system, and legal system. But it is not a city that can call London and New York its peers.
First, a great city is strong in more than one area. If you look at New York, it is the US center of gravity for arts, media, advertising, business, finance, tourism and so on. London can claim a similar status for business, arts, media, education, and political power. In Hong Kong- finance, yes, but nothing else. Going through key areas, the situation is bleak. In sports, there is the Hong Kong rugby sevens annual tournament which is certainly well-known, but no other major events. Its entertainment industry used to be well-known regionally, back in the 80s and 90s, but its singers and movie stars are no longer famous outside of Hong Kong. It may be a financial hub and boast some incredibly rich tycoons, such as Li Ka-shing, one of Asia’s richest men, yet none of its companies dominate banking or finance. HSBC is not a Hong Kong company despite its name, while AIA may be one of the world’s biggest insurance companies, but it is headed by a Westerner and was spun off from AIG. Customer service is alright at best, often dismal and sometimes downright rude. You can easily find better service in Taipei, Tokyo, and Seoul. And Hong Kong doesn’t produce or develop much of anything, so there isn’t anything here that you can’t buy elsewhere.
Also, a great city should be the most important city in its own country, for example, London in the UK, Paris in France, Toronto in Canada etc. Hong Kong, however, isn’t even the most important city in China, or even the second.
Second, a great city should be multicultural. One might say Hong Kong has loads of expats, as well as Westerners and Indians who’ve lived in Hong Kong for generations, as well as a multitude of Southeast Asian helpers. But Hong Kong is still overwhelmingly ethnic Chinese (almost 95%) and its government and institutions are all run by ethnic Chinese with a thin layer of Westerners holding senior positions. Meanwhile, all those Southeast Asian helpers are temporary workers who fulfill an important role but who are not exactly part of regular society (they are not eligible to apply for permanent residency and are bound to live in their employers’ homes). Longtime Westerners may be doing alright as do some Indian business families, but a lot of South Asians who grew up here still struggle to get proper education, jobs and representation. Unlike Singapore, no non-white minority holds or has held a top governing or administrative post and there are hardly any minority faces in entertainment. On the contrary, it is common to see white expats hold positions of power in administration as well as business and education. Not that they are all unqualified, but this is both a reflection of colonial heritage and a lack of local leadership talent. Of course, by this same rationale of multiculturalism, regional metropolises like Tokyo, Seoul, and even Shanghai fall short and for the same reason, they are not really great world cities.
Third, some folks try to label Hong Kong as the perfect example of East meets West. However, the result is not so much a dynamic, unique blend, but a watered down mixture. That doesn’t mean there aren’t talented and quality people, because there are, but it’s that the society and culture does not create anything spectacular. The reason is probably due to a mix of factors like cramped buildings and streets, sky-high living expenses, animosity towards China’s growing control, and so on. There is a lot of negativity in Hong Kong between people, and I don’t mean my little rant here. The strong notorious anti-mainland Chinese sentiment still exists but I’m not just talking about that. A lot of Hong Kongers are trying to emigrate, even young people, which says something about how they perceive their future here. And to be honest, a lot of people, especially locals, some expats, and even the SE Asian helpers, don’t like it here and don’t like each other.
By being unable to be great at anything except as a business/finance hub and by failing to become truly liveable and truly integrate non-Chinese minorities, Hong Kong is not able to break out from its box. In a sense, it is already special, but more as a fading star still living on past glories.
This issue has perplexed a lot of people, including those who are more intelligent and informed than me. But in short, a city cannot be great if its only purpose is as a finance hub and that is pretty much all Hong Kong has got going for it.