China’s Silicon Valley Dream Bumps Against Reality - News Summed Up

China’s Silicon Valley Dream Bumps Against Reality


Hong Kong offers capital-markets expertise, the technology hub of Shenzhen is bursting with cash-hungry startups, and Macau’s is the world’s biggest gambling center. While Hong Kong boasts the world’s most unaffordable real estate, mainland cities have cheaper labor and property prices. It will take more than a 55-kilometer (34-mile) bridge or a high-speed train, which starts operating from Hong Kong this month, to close that divide. These include issues such as health care and food safety, not to mention giving up Hong Kong’s more robust political freedoms. Far from moving to the mainland, many Hong Kong residents are deserting the city for other parts of the world.


Source: Washington Post September 16, 2018 00:56 UTC



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