In February 2019, the Chinese government released an outline for the economic development of what it coined the Greater Bay Area (GBA), referring to the region encompassing Guangdong province, Hong Kong, and Macau.
The development of the GBA is a priority for the Chinese government in its plan to transition China from a manufacturer of low-end goods to high-end technology. The recently-released document is significant because it begins to detail the roles Hong Kong and Macau might play in this plan.
Hong Kong and Macau were previously Western colonies, both of which were returned to China in the 1990s. The territories were returned on the condition they could continue to exercise autonomy over their political and economic systems for 50 years – an agreement dubbed “one country, two systems”. For Hong Kong, this agreement will end in 2047.
However, many Hongkongers see the GBA as merely a scheme to begin the early integration of their city into the mainland. Others are much more optimistic. The GBA for them is Hong Kong’s economic opportunity of the century. So, who is right?
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