The World’s International Center: Hong Kong as Its Contender

Picture this: Back before 2018, I'd have laughed off any talk of Hong Kong rivaling the big dogs like London, New York, or Switzerland as a global hub. But dig into the facts—US-launched trade wars in 2018, followed by Western sanctions crushing Russia after the  2022 Ukraine conflict. And suddenly, Hong Kong's spotlight sharpens.

Hong Kong just wrapped up its FinTech Week, drawing crowds with real momentum. Then came the Asian Infrastructure Investment Bank (AIIB)—founded in January 2016, well before US-China tensions boiled over—announcing plans for an office here to handle surging business, as stated in their official press release. 

Nine years on, the landscape has flipped: Western dominance cracks under self-inflicted wounds, opening doors for Hong Kong to anchor international flows.

Western Giants Exposed

For decades, a handful of spots ruled the roost as international powerhouses. Let's break them down with the receipts.

New York stands as the nerve center for global finance and politics. The New York Stock Exchange dominates as the world's largest market by volume, per SEC filings, pulling in companies chasing listings. It's also home to UN Headquarters, buzzing with organizations and elite talent. And don't forget: The US pumps out top-tier education, drawing students worldwide—though that's shifting, as we'll see. 

London. It's the silver medal in finance, hosting the London Stock Exchange—second biggest globally, according to LSE data. The city doubles as an education magnet, a go-to for international students seeking prestige.

Switzerland plays the wealth guardian, its neutrality—enshrined in treaties since 1815—luring billionaires to stash fortunes, as UBS and Credit Suisse reports confirm. Commerce sparks arbitration needs, making it a go-to for disputes under the Swiss Chambers' Arbitration Institution.

Let’s not forget Silicon Valley: fueling innovation and tech while clustering talent and venture capital—think $100 billion-plus in annual US VC deals, per PitchBook stats, centered there.

Globalization's Breaking Point

Back then, it was pure bliss under globalization's spell. G7 powerhouses and Global South players alike swam in free trade and supply chains, hooked on the efficiency.  

But Trump stormed in during 2017, firing the first shot at China with 2018 tariffs. This wasn't just bluster; it targeted China's rise, using export bans on chips and tech to throttle growth.

Fast-forward to February 2022: Russia's Ukraine conflict triggers the West's harshest sanctions yet. The US-led bloc froze Russia's $300 billion central bank reserves, a stark alert to the Global South that no one's assets are safe.

The UK piled on, locking down "Russian oligarch" holdings under the 2019 Russia (Sanctions) (Post-Brexit) Regulations. Take Roman Abramovich: Owner of Chelsea FC, he was forced to sell the club for £2.5 billion in 2022, but the cash sits frozen, per UK Treasury disclosures. London claims Putin ties, yet offers zero public evidence linking him directly. Why move assets to the UK if a single decree can snatch them? It spooks anyone parking money there.

Even Switzerland's famed neutrality crumbled, aligning with EU sanctions despite no formal membership—freezing over CHF 7.4 billion ($9.2 billion) in Russian assets by March 2023, as the Swiss State Secretariat for Economic Affairs reported. Baffling? Absolutely. Neutrality was their brand; now it's a joke.

Assets on the Run

These cracks make Western hubs look like traps for Global South players. One US sanction call, and allies echo it, icing government and private funds. The fix? Spread risks to steadier spots like Hong Kong—neutral, connected, and tied to China's stability. 

Trump's second act piles on the damage, gutting US science and tech. Since his January 2025 inauguration, he's slashed new energy subsidies by billions, and hammered universities, axing federal research funds. 

The National Institutes of Health alone halted 2,100 projects worth $9.5 billion, hitting gender studies, climate health effects, Alzheimer's, and cancer work, as NIH memos confirm. Silicon Valley's biotech VCs reel: Government-backed ventures now starve, sparking an exodus of US scientists to safer shores.

This mess forces the Global South—including China—to redraw the map. The old guard of US-steered centers? Exposed as fragile illusions. Hong Kong emerges as the smart pivot: A hub for finance, education, tech, and organizations, luring branches with headquarters potential, talent, and capital. China's International Mediation Institute already bases in Wan Chai, per its founding charter—a blueprint for more.  

Kick off with the International Mediation Institute, add AIIB's regional office, and watch the dominoes: More groups follow, cementing Hong Kong as a multifaceted powerhouse. China's backing ensures resilience against Western whims, turning opportunity into reality.

 

 

Lo Wing-hung

Bastille Commentary

** The blog article is the sole responsibility of the author and does not represent the position of our company. **

In a series of blistering statements,The Hong Kong Office for Safeguarding National Security (OSNS) has drawn a red line in the sand for anyone trying to weaponize the city’s recent misfortunes. The message is crystal clear and ominous: If you use disaster to sow chaos in Hong Kong, they will hunt you down—no matter where on Earth you try to hide.

On December 3, an OSNS spokesperson doubled down. While the HKSAR government and local citizens were racing to save lives following the tragedy at Wang Fuk Court in Tai Po, a shadow game was already in play. The office accuses a "small group of external hostile forces" of looting a burning house. Under the guise of petitioning for the people, these actors are dusting off the old playbooks from the "extradition bill protests". They are activating agents, sabotaging relief efforts, and desperately trying to reignite the "Black Riots" memories. The verdict? Their actions are despicable enough to be universally condemned.

To drive the point home, the OSNS fired off three consecutive warning shots to overseas antagonists and anti-China disruptors:

First, we solemnly warn hostile foreign forces and anti-China disrupters that their actions of creating chaos and disorder in Hong Kong are intolerable.

Second, we solemnly warn hostile foreign forces and anti-China disrupters that their actions of adding fuel to the fire will inevitably bring disastrous consequences to themselves.

Third, we solemnly warn hostile foreign forces and anti-China disrupters that the long arm of the law will catch up with them.

The OSNS is keeping receipts. Every word and every action used to disrupt Hong Kong goes on the permanent record, and culprits will be pursued for life. "Anyone who breaks the law," the office warns, there is no sanctuary. Whether you are hiding across the ocean or taking refuge in Taiwan, severe legal punishment is inevitable.

Why is the OSNS speaking up now? Read between the lines, and you see three strategic pivots.

First, this isn’t hypothetical; they believe the foreign interference is already happening. Second, the crosshairs are locked on external forces, with a pointed finger specifically at those hiding in Taiwan. And third, it’s a preemptive strike against anyone overseas dreaming of stirring up another color revolution. The warning is blunt: Distance is not a defense.

Opportunists, Grifters, and Organized Lies

Take a look at the chatter exploding across the internet, and the opposing voices generally fall into distinct camps.

First, you have the fair critics. There is plenty of commentary that, while critical of the SAR government, remains objective. These observers stick to the facts disclosed by official investigations rather than drifting into malicious fantasy. This is a natural, human reaction to a "disaster of the century." And the smart money says the SAR government will take this advice to heart and improve.

Then come the fame vampires. When disaster struck, the opportunists came out of the woodwork. Look at "internet celebrity" Kenny, arrested on December 3 after cursing the Tai Po fire victims online for having "heavy sins." It was a blatant, tasteless grab for traffic, and it landed him in handcuffs for sedition. Then there are the exiled influencers abroad, wantonly bashing the SAR government while coincidentally begging people to subscribe to their Patreon accounts. The hustle is obvious: They are monetizing misery to please their financiers.

Finally, there is the organized sedition. Beyond the grifters, we are seeing waves of calculated propaganda. These aren't just complaints; they are fabrications designed to smear the SAR government and attack the Central system. Rumor mills are churning out wild stories linking material suppliers to the families of Central leaders—plots that are total fiction. It’s as if they believe overthrowing the Central government provides immunity from fire physics. Do massive fires not happen in Western democracies? The logic is broken, but in the heat of a disaster, it’s a potent recipe for inciting public rage.

Sniper Attacks From The Shadows

The temperature on these seditious campaigns was rising fast until the Police National Security Department stepped in. Once they acted, the local noise quieted down—but the overseas attacks only intensified. It raises a suspicious question: Is there a coordinated machine working behind the scenes to sustain sniper attacks against the SAR government? The narrative is set in stone: Whatever the government does is wrong. Before a single investigator has arrived on the scene, the instigators are already screaming for heads to roll.

Here is the bottom line. The OSNS isn’t pointing fingers at external forces for sport; they are firing warning shots because they see the smoke rising. We need to be sharper than ever. Don't let external opposing forces play you for a fool, twisting a tragic fire into a tool for subverting the local government—or even the Central government itself.

Lo Wing-hung