Anyone who reads my articles knows that I am a big fan of Hong Kong. I, like many others in the toy industry, have been happily doing business there for years. That’s why we want Hong Kong to continue to thrive as one of the capitals of the global toy industry.
It has, however, been a very rough year for Hong Kong. Last January some protests turned violent. Then a trade war broke out between the U.S. and China. After that came a threat by the Trump administration to end Hong Kong’s decades-long “special relationship” with the U.S. And, oh yes, there was coronavirus.
Hong Kong has taken a real beating this year. In fact, the city reminds me of Sylvester Stallone’s character, Rocky Balboa. Rocky, as you will of course recall, was constantly getting knocked down and just as constantly getting back up; bloodied but victorious.
You could never count Rocky out, and it looks like Hong Kong may just have that kind of resilience as well. That’s according to a Bloomberg Next China Newsletter article from June 11, 2020.
The article reminds us that Hong Kong is a cosmopolitan, world-class city that, because of its “open capital markets and its “Common Law” legal system, is well-positioned as a go-between for China’s markets and the rest of the world.
It is also a comfortable place for westerners to engage in business. With its many English speaking residents, its entrepreneurial spirit, and its robust banking system, it is a place where business and cross-border relationships grow and prosper.
Hong Kong has its challenges, but its people and its institutions are resilient. In another year, we may be past coronavirus, and a new U.S. administration could be in place. As a result, the world might look a lot different. No matter what happens, my bet is that Hong Kong will still be in the ring, beat up and battered but victorious.