As early as 1995, Fortune Magazine in the United States predicted that Hong Kong would become stagnant after its handover in 1997, even featuring the cover story: "The Death of Hong Kong". The author pointed out that Hong Kong would remain a place to make money, but as a colony of Beijing, it would inevitably slowly transform into an ordinary mainland city — rife with government and commercial corruption, collusion, and a disregard for the rule of law. In terms of business, foreign participants would no longer have a fair chance to compete as Hong Kong would be under the control of a tight circle of government officials and political elite business interests. Most importantly, Hong Kong's officials would be under the scrutiny and manipulation of Chinese Communist Party, with governance more focused on nepotism and corruption rather than upholding the rule of law.
Unfortunately, the prediction was accurate. Let's take a look at the latest developments in the city.
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