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Chapter 694: Hong Kong Island Problem

Boundary Street, many people may not have heard of this name, but in the history of Hong Kong Island, this street is an important historical witness.

Boundary Street is an important street on the Kowloon Peninsula of Hong Kong Island, connecting Sham Shui Po and Kowloon City.

The road starts in Sham Shui Po South, passes through the northern part of Mong Kok, Kowloon Tong South and Kowloon Tsai, and finally reaches Kowloon City and connects to Prince Edward Road West.

"It's really hard to imagine that a family's influence can be so huge."

A group of special tourists came to the Kowloon City District today. They were dressed in Western suits and Zhongshan suits, and wore scholarly glasses. It was obvious that they were not here for tourism, but more like they were here for investigation.

Yes, it was an inspection. The guests came from the north and were affiliated with the Ministry of Finance.

The return is imminent, and these people came to Hong Kong Island to conduct some research and analysis on local financial and economic issues.

In fact, the problems in Hong Kong have never been political issues. They are like ripples in a glass of water, which can never cause any waves.

Hong Kong Island has only two problems: the economy and the exchange rate.

"Yes, we had already planned to invest a lot of policies and funds to help Hong Kong Island after 97. Looking back now, our thoughts at that time were so ridiculous."

No one could have imagined that as early as the 1980s, the mainland, whose living and economic standards were vastly different from those of Hong Kong Island, was actually planning to provide relief to Hong Kong Island.

In 1984, in Annex 3 of the Joint Declaration, we gave up the financial sovereignty of Hong Kong Island, we no longer wanted the land use sovereignty, and we gave you the land rent. This was our compromise and helplessness in taking back Hong Kong Island, just for the full return of Hong Kong Island.

Why is Boundary Street of historical significance? Because according to the treaty signed by the Qing government, Kowloon and the New Territories were returned to Hong Kong, and Hong Kong Island was the Queen’s private land, with Boundary Street being the dividing line.

So if you traveled to Hong Kong Island in the early days, you would know that the area south of Boundary Street was very prosperous, while the area to the north was shabby and like a village.

"Looking at these high-end office buildings and luxurious residential areas, London can only swallow its anger now."

The man's words made everyone in his group burst into laughter, and they couldn't help but think that it was a blessing for the country to have the Luo family.

Why do I have such an idea? Because Luo Nianzhong has done so much for Hong Kong Island in the general direction, and he is a giant who has truly benefited the entire Hong Kong Island.

In the 20th century, there were two giants in the United States. One was Paul Volcker, who served as Deputy Secretary of the Treasury for seven years and led the decoupling of the US dollar.

Later, he became the chairman of the Federal Reserve and helped the United States get through the difficult period of 20% domestic inflation.

If it weren't for him, it might not be the polar bear that disintegrated, but the U.S. economy itself would collapse, and no one knows how the world will develop.

But one thing is certain, that is, the United States cannot be the only superpower.

Who is the other one? Friedman.

Even though his three main theories of economics have flaws, he is still a great economist because he can handle problems.

What problem did he solve? Thatcherism, which is what Friedman had planned for.

The so-called privatization in Britain back then required capital, but in the 80s, the poor middle class in Britain even used newspapers to wipe their butts. Where did the money come from?

The United States had just fought a war and had no money.

The Japanese are rich, but if they are allowed to come to Britain for capitalization, not to mention the mainland, even the United States will not agree.

So Friedman pointed his finger and set his target on Hong Kong Island. The method was simple, that is, to get good land, that is, the land use rights of Hong Kong Island. In exchange, this part of the land was given to the Queen and could be returned after 97.

Needless to say, the land area of ​​Hong Kong Island increased more than twenty times in the twelve or thirteen years after 84.

These lands are in the hands of Yingzi, who either harvested them themselves or through white-glove speculation.

During this period of history, Britain took away more than one trillion dollars in Hong Kong Island and finally completed capitalization locally.

What happened next? Hong Kong Island became a representative of the rent economy. The high rent caused a large number of talents to leave, and a large number of factories moved and closed down. Finally, it became a society dominated by the real estate, finance and insurance industries.

If the mainland had not continuously provided various preferential policies, Hong Kong would have collapsed long ago.

This is the tragedy of Hong Kong Island. Many people simply cannot understand the industrial level of Hong Kong Island in the 1980s and 1990s. Switzerland is nothing. Hong Kong Island's various technologically advanced small and medium-sized enterprises far surpass Switzerland in both technology and quantity.

It is because of the sharp increase in land rent, people are going bankrupt and moving away. When survival is a problem, there is no need to talk about development and transformation.

Of course, this is the original historical development. Now everything in Hong Kong Island is taking another path, and Friedman is being criticized by the British.

British capitalism, the Japanese people did not come in, but the Luo family came in, and the United States also came in.

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The problem is that not only did the Luo family get in, but the Far East also had the technology.

This means that a large number of British companies do not have to start from scratch and can quickly create value on their own, while Wall Street, the Luo family, and the local capitalists who are allied with the Luo family have enough funds to complete the harvest.

The price is to support the Luo family’s proposition in Hong Kong Island. Land prices can rise, but it must be a moderate and healthy growth.

There is Hong Kong Island, and there is also the huge obstacle of the Law family. Whether from the perspective of difficulties or benefits, Hong Kong Island is incomparable to Britain.

The final result was that Jin was divided among the three families, and Hong Kong Island remained stable.

As for industrial changes, relying on the guidance of the Far East Group, Hong Kong Island has not only completed the transformation from intensive industries to technology-based industries, but is now also transforming to high value-added industries.

What do these industries need? Talent.

Therefore, talents from all over the world gather in Hong Kong Island. Hong Kong Island has completed the comprehensive layout of the middle class and has become one of the richest regions in the world, and is absolutely at the forefront of Asia in terms of per capita GDP.

The last one is Yingzi. Since the establishment of Far East Group, Luo Nianzhong has relied on the huge financial resources in his hands to erode Yingzi's assets.

Hong Kong Island is now dominated by Chinese capital. What is Yingzi? Are there still white gloves?

Economic problems? None.

How did the prosperous times come about? This is why the higher-ups allowed the Luo family to develop.

The Luo family has made their position clear through their actions. Originally, the Luo family could have developed better by joining the harvest and moving the factory to either the United States or England. The Luo family could have developed faster and with less trouble.

But Luo Nianzhong did not do so. To date, the most core and cutting-edge technology research and development of the Far East Group has been carried out in Hong Kong Island.

To be honest, Luo Nianzhong was proud and honored to have achieved this, but it was not enough, he had other ideas.

(End of this chapter)