The Korea Herald

지나쌤

Stability is Hong Kong‘s best bet

By Yu Kun-ha

Published : March 30, 2012 - 10:22

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The election of Hong Kong’s third chief executive under Chinese sovereignty followed a well-worn pattern. The candidate favored by Beijing won. Earlier, however, there were some twists to the script. Just when the race appeared to be on auto-pilot, there surfaced revelations one would associate with boisterous democratic contests elsewhere. This will boost the expectations of Hong Kongers to directly elect their leader one day. But the overriding concern now is for administrative certainty so that the people can get on with the business of making money. Hence, the market calm that greeted the result. It showed that unhappiness over Beijing‘s influence was probably overstated. After the dust settles, Chief Executive-elect Leung Chun Ying is likely to be accepted by the bulk of apolitical Hong Kongers, even if some continue to lament that the outcome was decided by only prescreened electors numbering below 1,200.

In victory remarks, Leung said he would safeguard the core values by which Hong Kong has been governed, and that the rights and liberties the people have enjoyed would not be eroded on his watch. The smooth transition after the 1997 handover to China supports his assertion. Many Hong Kongers who had left fearing turmoil have returned to resume businesses and careers. But democracy activists were not to be denied; they staged a mock poll in which half of the 223,000 respondents rejected all the candidates. Such acts provide an outlet for dissent, but do nothing to advance the process of choosing a leader who will manage relations with Beijing while attending to local concerns, dominated now by wealth inequality and unaffordable housing.

Picking a fight with Beijing is being unrealistic, foolhardy even. It has kept to its end of the deal in letting Hong Kong be for 50 years, after 1997. The territory is increasingly reliant on economic concessions and capital flows from the mainland, including stock listings and the internationalization of yuan trades. It takes half of Hong Kong’s exports. The flood of mainland tourists -- 23 million at last count, three times the city‘s population -- has revitalized commerce. Food and water are supplied from Guangdong.

Given the stakes involved, there will be governing gridlock and capital flight if a chief executive set out to be obstructive, just to demonstrate liberal leanings. But one undertaking Leung owes Hong Kong people is to prevail upon Beijing to keep to the direct elections timetable. Prospects would be better if the people help the administration in preserving governing equilibrium.


Editorial
The Straits Times

(Asia News Network)