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From Glory to Gloom: Hong Kong Fails the 'ISO 9000' Standard (Edward Chin)

錢志健Posted 2 months ago

A seasoned hedge fund manager with over 20 years of investment experience. Previously served as the regional head of a major global hedge fund listed in London. Currently, he is a board member of a family asset management company, primarily focusing on global long-short equity strategies. He has authored over ten books on finance, sharing insights on current events, investments, and life wisdom. Since 2022, he has hosted the "World Hong Kong Forum" and, prior to the implementation of the Hong Kong National Security Law in 2020, established a YouTube channel, Ed Chin World, in hopes that a "genuine" one country, two systems approach can be realized.

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From Glory to Gloom: Hong Kong Fails the 'ISO 9000' Standard (Edward Chin)

Hong Kong has been sinking since that fateful day on June 30th, 2020, at 11:00 pm when the National Security Law (NSL) came into effect. The city’s glory is gone. The defenders of our core values have been imprisoned or driven into exile. For years, Hongkongers tried peaceful protests, asking Beijing to honor the original “one country, two systems” promise. But our pleas fell on deaf ears. Beijing has since restructured the electoral system, and vague, sweeping interpretations of the NSL have subjugated Hong Kong’s legal system under China’s authoritarian regime. It’s not just the law that has changed; professional bodies—education, healthcare, accounting, law—have all been brought under direct control. Everything we once knew is being suffocated. To put it metaphorically: Hong Kong has failed the “ISO 9000” test.

 

To me, Hong Kong was always more than just a financial hub. Hong Kong was a city of possibilities—where people built their futures, whether through business, craftsmanship, or trade. It was a place that allowed for survival and success. But that Hong Kong no longer exists. Beijing’s chokehold has stripped the city of its soul. The streets that once buzzed with entrepreneurial energy now feel stifled by fear and uncertainty. The future is bleak, and many are choosing to leave rather than live under constant threat.

 

My closest friends in the finance and business sectors remain deeply committed to the ideals of Hong Kong’s freedoms. Yet even among the pro-establishment business community, there is growing concern. I hear it in their voices when we talk—people who once defended the government’s actions now express fears for their children’s future in a city where freedom of speech no longer exists. Even they recognize the tyranny creeping into every corner of life.

 

As for Jimmy Lai, his fate under the totalitarian regime is still not known. The trial of Jimmy Lai, founder of the pro-democracy newspaper Apple Daily, marks a tragic turning point in Hong Kong's recent history. The prolonged delay in Lai's trial for alleged violations of the National Security Law (NSL) has finally resumed again, and the next trial date set for November 20, 2024. At 76 years old, diabetic, and held in solitary confinement with no communication with the outside world, Lai is set to provide his own testimony. This trial isn't just about silencing a newspaper; it's about preventing the world from hearing Jimmy Lai's story—a symbol of Hong Kong's fight for freedom. Jimmy Lai is the strongest proponent of “one country two systems”, but the Chinese Communist Party (CCP) up north just cannot tolerate someone so outspoken and capable. Accusing Lai of being a 'separatist' is utterly baseless.

 

Last month, Jimmy Lai’s international legal team, along with his son, Sebastien Lai, submitted an urgent appeal to Dr. Alice Edwards, the UN Special Rapporteur on Torture. The appeal highlights a range of serious concerns regarding Mr. Lai’s treatment in detention, including:

 

  • Mr. Lai’s prolonged detention in solitary confinement for over three and a half years, since December 2020, in circumstances that pose a grave risk to his physical and mental health, and to his life, given his age and underlying medical conditions. He has limited human contact and is routinely imprisoned for 23 hours and 10 minutes per day, with only 50 minutes for restricted exercise; he has limited access to daylight.

 

  • The denial of access to independent medical care.

 

  • The grossly disproportionate threat of life imprisonment for entirely peaceful acts.

 

 

Most Hongkongers never wanted independence—they simply wanted the freedoms that were promised to them under the “one country two systems” framework. That said, the 'one country, two systems' model fails the ISO 9000 standard completely. What’s terrifying is the growing sense that Hong Kong’s distinctions from mainland China are disappearing. Visa refusals, asset freezes, deportations—all of these tactics, once foreign to our city, are becoming a grim reality.

 

As I watch from afar, I see the exodus continuing. Capital is flowing out of Hong Kong, and so are the people. This time, it’s not just the pro-democracy activists leaving—many from the pro-establishment camp are also packing their bags. They see the writing on the wall. The government’s heavy-handed approach has backfired, and the cracks are widening. Even those who once stood with the authorities now find themselves reconsidering their future in a city where personal and business security are no longer guaranteed.

 

I remember a recent conversation with a pro-establishment business contact. We were on FaceTime, and he looked at me with a mixture of fear and desperation. “Do you think John Lee and the sanctioned officials are still in their right state of mind to govern Hong Kong?” he asked. His question highlighted just how much the political divide is narrowing. It’s no longer just about ideology—it’s about survival. Everyone, no matter their previous allegiances, is beginning to see the dangerous path Hong Kong is on.

 

As for Jimmy Lai, a prominent figure representing Hong Kong’s fight for freedom and democracy, should be granted amnesty by the Hong Kong government. His imprisonment not only represents a grave injustice but also symbolizes the erosion of the liberties that once defined the city. Granting him amnesty would be a bold and necessary step toward restoring the normalcy that Hong Kong so desperately needs. Current Chief Executive John Lee Ka-Chiu must take a page from history and exhibit the same courage shown by former Governor Sir Murray MacLehose in the 1970s, when Hong Kong was plagued by rampant police corruption. MacLehose took the unprecedented step of granting amnesty to corrupt law enforcement officers, allowing the city to rebuild its institutions and regain public trust.


By offering amnesty to Jimmy Lai, John Lee can initiate a similar process of healing and renewal. This act would signal that Hong Kong is willing to reconcile its past, address injustices, and return to the rule of law and the freedoms that once made it a global beacon. It is not just a matter of one man's fate but the future of Hong Kong as a society that values justice, transparency, and the rights of its people. Before we can see light, we have to diligently deal with darkness. As a man of faith, let me end this first article at Red Pill with a prayer:

 

O God, eternal Father, look down upon your children whom you have created with dignity and given freedom. We pray for the freedom of the people who suffer in Hong Kong and throughout the mainland, especially believers who suffer persecution for your name’s sake. We pray that you would rebuke the forces of evil and totalitarianism and restore a righteous vision of what a free and virtuous society can become throughout the beautiful land of China. Bless Jimmy Lai and all those in prison for their beliefs in freedom, and those who have protested against the totalitarian regime. Encourage their hearts and sustain the people in the diaspora who have been separated from their beloved homeland because of this tyranny. We bless all the people of Hong Kong and China and bring them your peace. In the name of Jesus Christ our Lord, Amen.


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