Who would have imagined, half a dozen years ago, that the world would be experiencing accelerated inflation today, in an endless “war” against Covid-19 and the invasion of Ukraine, exposing the illusion of stability raised by the fall of the Berlin Wall.
The worst kept secret is that all signs herald a deep economic recession. But there is worse: a civilizational clash that boils down to good and bad – which is always the worst idea.
Macau is experiencing the crisis in a condensed way. It’s always very intense in a small town made big by the circumstance of the transition of powers and the boom of the gaming industry. Today, with the exception of inflation – it is, in fact, in deflation – it faces the pandemic in the most radical way. With each passing day… with worse consequences.
Ho Iat Seng clings to an argument that even makes sense: he doesn’t want to open the borders to the west, so as not to miss the corridor of the eastern nation. Politically defend yourself. He would even say that it points to a second term.
Despite age; and the isolation to which the Palace condemned, increasingly farther from the city, from the people, from real life… The numbers are clear: the revenue that feeds the casinos does not come from China; nor the accelerated diversification that the Great Bay beckoned. reality bites…
Hong Kong has opened the door to the West. But in fact it is of little use to him if he does not make the bridge to the east. That’s your DNA; that has always been the formula for success.
The idea that it could maintain the status of a financial center and a sophisticated standard of living, defying China, was never more than a false good idea. Macau does just the opposite; thesis that is neither better nor worse. It’s just dysfunctional.
In an increasingly tense and uncertain world, China’s autonomous regions need like bread to fulfill their historic role: linking cultures, policies and economies. Strictly speaking, the world in general increasingly needs these sources of light.
Measuring the size of the tongue, or the pistol, takes us down a dark and dead end.
Or even the abyss.
*Director General of PLATAFORMA