Even with protests, recession and coronavirus, Hong Kong is a better bet than Singapore
- The singular advantage Singapore has over Hong Kong is affordable public housing. On all other fronts, Singapore is no better than Hong Kong. Even in the fight against Covid-19, Singapore is far behind Hong Kong
Given this state of flux in Hong Kong, Singapore appears to be an affordable safe haven beyond the reach of Beijing. I am reminded of similar arguments heard before the Hong Kong handover in 1997.
Pre-1997 Hong Kong was a borrowed place on borrowed time. Most Hongkongers, as well expats who came to work or do business, knew it. They were concerned about a security net. That is why Hongkongers who could afford to hold foreign passports went for it. A significant number of Hong Kong families thus secured foreign citizenship. Many hold Singapore passports or are permanent residents.
Now, I find myself repeating what I said back then. I believe this is the time for Hong Kong policymakers to do what is needed to shore up public confidence in “Asia’s World City”. The singular advantage Singapore has over Hong Kong is real estate. This is where urgent action is needed.
How Singapore can draw the right lessons from the coronavirus crisis
According to data from Johns Hopkins University, Singapore has more than 29,000 coronavirus cases, the greatest number in Southeast Asia. In comparison, Hong Kong has around 1,060 cases. As for deaths, Singapore has recorded 23 and Hong Kong, four.
Laying aside Covid-19, let’s take a closer look at the political and economic fronts. Of course, Singapore is an independent country, which Hong Kong is not. But Singapore, like China, is effectively a one-party state.
01:19
Singapore Land Transport Authority workers now living on-site after Covid-19 outbreak in dorms
On the economic front, Singapore and Hong Kong, both regional trade and finance hubs, have been hammered by the United States’ trade war with China – Singapore more so than Hong Kong, because of its over-reliance on global trade and its port facilities, which are a major bridge between Asia and the West.
Why Hong Kong is not Singapore – it’s all about money and politics
Hongkongers fight to preserve their civic rights, something Singaporeans have never done. Hongkongers demand democratic accountability: a government elected by the people that is responsive and accountable.
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Hong Kong shop offers ‘tear gas’ flavoured gelato to remind customers of anti-government protests
Housing is surely the leading cause of young people’s disaffection, which fuels the anti-government protests and forces people to consider leaving their homeland. However, this is not a complicated issue to resolve. The government must shake off the shackles of real estate tycoons who have a stranglehold on public housing policy.
Hong Kong, like Singapore, must formulate a housing programme to get roofs over the heads of the middle class, and let the rich seeking luxury accommodation or dabbling in speculation be exposed to the vagaries of the open market. Turning an estimated 720 hectares of unused brownfield into public housing is a good starting point.
That is when protests and discussions by Hongkongers and expats about the pros and cons of relocating to Singapore should come to a screeching halt. And in a long overdue shift, Singaporeans and expats there may soon be weighing the advantages and disadvantages of relocating to Hong Kong.
Peter G. de Krassel is a strategic analyst, contemporary social commentator and author of the Custom Maid books and blogs. [email protected]
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