Stephen Roach, Beijing’s Well-Known Associate,

Stephen Roach, the former Morgan Stanley Asia chair and a well-known figure in Beijing, recently revealed that he was restricted from expressing differing opinions on Hong Kong at the China Development Forum. Roach, who was invited to attend the forum as a senior fellow at Yale University’s Jackson Institute for Global Affairs, wanted to address concerns about the future of Hong Kong during his speech but was discouraged from doing so. According to Roach, the organizers made it clear that they only wanted to hear views that were constructive to China.

Roach’s previous remarks that “Hong Kong is over” have attracted widespread attention and sparked controversy. In a commentary in the Financial Times, he stated that political factors and international circumstances are contributing to Hong Kong’s demise. He highlighted structural problems in the Chinese economy, the impact of the COVID-19 pandemic, and cyclical pressures in the property market as factors leading to Hong Kong’s decline.

These remarks have caused serious concern among Chinese Communist Party officials and have been refuted by multiple Hong Kong officials. Regina Ip Lau Suk-yee, a member of the New People’s Party, has engaged in verbal exchanges with Roach regarding his statement. Roach also criticized Hong Kong academic and business representatives for not accurately reporting the situation in Hong Kong to Beijing.

During the China Development Forum, Roach discussed China’s financial market policies with Laura Cha, the chairperson of the Hong Kong Stock Exchanges. He raised concerns about the interdependence of Hong Kong and China’s economies, the adverse impact of political conflicts between China and the United States on Hong Kong trade, and the implications of Article 23 on Hong Kong’s autonomy. Roach argued that these factors would spell trouble for Hong Kong in the years ahead.

Article 23, a highly controversial legislation passed by Beijing-controlled Hong Kong authorities, has cast a shadow over Hong Kong’s political and policy-making autonomy. The legislation, which defines “national security” vaguely and allows for criminal prosecution for actions taken worldwide, has raised concerns among international securities firms. Many are discussing the political risks of doing business in Hong Kong and fearing an outflow of foreign talent.

Roach, who has participated in the China Development Forum for the past 24 years, called for current Chinese and Hong Kong leaders to allow free and open debate on issues. He emphasized the importance of discussing issues based on their merits rather than personal political agendas.

In conclusion, Stephen Roach’s restricted speech at the China Development Forum and his controversial remarks about Hong Kong being over have stirred debate and concern. The future of Hong Kong, its autonomy, and its relationship with mainland China remain topics of significant interest and importance in the global arena.