Club meeting — Hong Kong Third Economic Transformation

In this meeting, our newest member Professor Heiwai Tang gave a thought provoking vocational talk. Rtnnes. Lina, Coco and Catherine joined as part of our spouse program. Before we went into the speaker program, we took care of some club business. First, led by Past Presidents Kay and WT, we sang Happy Birthday to Rotarian Fei whose birthday was on May 31. Next, we gave Professor Heiwai a proper “pinning”, as he was previously inducted on April 14 via Zoom. Professor Heiwai, a MIT-educated economist, returned to Hong Kong at a time when there were a lack of world-class young economists in Hong Kong. Professor Heiwai’s topic, “Hong Kong Third Economic Transformation”, traced Hong Kong’s development through history. In the 1960s and 1970s, British colonial rule favored “non-intervention” policies in the absence of market failure. However, the government had a vision for the colony and pushed compulsory education, big infrastructure projects and founded HKUST to position Hong Kong for the future. This future would transform Hong Kong’s work force into something like Singapore or Switzerland. Science and technology would figure heavily in the future of Hong Kong. However, in the years leading up to the handover in 1997, Hong Kong…

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