More Than a Monkey Business
HK netizens have been circulating this image after Apple Daily was shut down by the government on June 24, 2021. It is most probably created by Apple Daily journalists who have lost their jobs. Reasons: The layout resembles the front page of the pro-democracy tabloid except that the apple (on top right hand corner) has turned green. In small font (and in Chinese characters) barely visible beneath the logo: Freedom is not for sale.
In the first half of the page (and in Chinese characters): A group of African wild monkeys took control of a car. The driver and passengers have to abandon the vehicle and run for their lives. However, none of the monkeys knows how to operate the vehicle. They have no clue. The idea probably comes from the Chinese saying 沐猴而冠 or 衣冠禽獸, literally means “A monkey with a hat on -- a worthless person in imposing attire”. It is often used to condemn bad impersonators, political figures in particular.??In Chinese history book 史記，the saying was used in a story when two armed forces were vying for control of China after the first emperor passed away.
Those of you who have been following HK know that locals are leaving (and BNO holders are heading for UK). International media describes the massive emigration as “exodus”. After the handover, more than one million Mainland Chinese had moved in, replacing locals in various sectors. However, it remains to be seen whether they will stay and to what extend they will affect upcoming election results. On business front, Mainlanders have made their impact. In the stock and property markets of HK, CCP regulatory policies are calling the shot and old analytical frameworks no longer apply. Local demand is unable to shift the market or determine rules of the game. Some of the local property developers have turned to SPAC listing in US to raise money for their technology start ups.
Now foreigners are having similar experience. After regulatory crackdowns on big tech firms and private education sector, institutional investors from Wall Street finally realize that they are investing in a country controlled by CCP, whose regulatory policy towards business sector could change without warning. They are having first hand experience of China risk, something Hongkongers have to live with on a daily basis.
WANG Yang（汪洋）, the CCP cadre who used to manage Guangdong, has put it this way: “Empty the cage and let new birds in”（騰籠換鳥）. He was referring to economic upgrade of the southern province which used to be the home of factories financed by Hongkongers or Taiwanese. He argued that low value added labor intensive industries should be replaced by high value added or high tech industries.
Those of you who have been following China know that the same line of thinking is visible in population policy of HK, Tibet and Xinjiang (the part of China which Uyghurs would refer as East Turkestan). From the perspective of CCP, by changing the population mix of rebellious regions you can control election results and shift economic development to the favor of the establishment. The locals will call it an invasion and some of them will leave. Fight or flight. HK has come to this point.
Further readings:
'Goodbye Apple Daily': Tears in Hong Kong paper's final hour
BBC (June 24, 2021)
Apple Daily: The Hong Kong newspaper that pushed the boundary
By Yvette Tan
BBC News (24 June, 2021)
Hong Kong residents now eligible for special UK visa
BBC (Jan 31, 2021)
Hong Kong: How life has changed under China’s national security law
BBC (June 30, 2021)
领英推荐
China’s crackdown puts at least 70 IPOs, billions in fees on ice
Aljazeera (2021-07-12)
Investors Lost Hundreds of Billions on China in July
China moves to reassure global investors who have been drawn to country’s strong growth, booming tech industry
By Juliet Chung,?Justin Baer?and?Dawn Lim
The Wall Street Journal (July 30, 2021)?
How China Played American Investors
Shares tumbled this week as investors wondered what they really own when they buy Chinese stocks.
By Joseph C. Sternberg
The Wall Street Journal (July 29, 2021)
Opinion: Wall Street is finally waking up to the reality of China
Josh Rogin
The Washington Post (July 8, 2021)
Business Transformation Specialist with a Focus on Strategy
3 年I know and love HK {at least the former version}. The graphic is very apt. Social harmony and stability .. the clarion call of the CCP. You just be careful that your views are not subject to censure otherwise you, too, may find yourself in the gulags that China has become famous for, Heidi H.