Emerging from a colonial past

The question is not whether Hong Kong has changed. Any city after a decade will have undergone some sort of regeneration, let alone one as dynamic and vibrant as the former British colony. The real question is what sort of change has occurred?

Ten years ago if people in Hong Kong were told that within days of the Union Jack being lowered they would experience the Asian financial crisis, then SARS as well as bird flu and a general loss of confidence in the property market, they would have viewed it as a disaster. But Hong Kong has emerged, humbled yes, but surer of itself. It has taken the blows and survived.

It also has a real sense of identity now. Once an outpost of the British Empire, Hong Kong is now an important part of an emerging economic and political superpower. Its future as part of China is assured. Hong Kong will continue to change, but it will do so in tandem with changes in China and these changes will influence the world. Hong Kong's future will be determined not by how much it changes but how much China and the regions within China change.

Hong Kong's economy was arguably stronger 10 years ago than it is today, but its potential prospects are far greater now than ever. Unlike 10 years ago, the future is not something to cause great unease.