A Trump visit to Hong Kong would be a strategic masterstroke

If one word could capture the essence of Hong Kong, it would be resilience.

Just two years ago, much of the international community had written off Hong Kong. A widely circulated newspaper commentary carried the headline: “It pains me to say Hong Kong is over”. Though the writer later changed his opinion, the piece captured the pessimism about the city’s future as a global hub.

Hong Kong’s dramatic comeback is well documented. According to Boston Consulting Group, the city has overtaken Switzerland as the world’s largest cross-border wealth management centre, with US$2.95 trillion in offshore assets last year. This surge was driven by wealth flows from mainland China and a listing boom. Hong Kong also climbed to second place in the International Institute for Management Development’s global competitiveness rankings, its highest since 2019. These milestones signal not just recovery, but renewed momentum.

Geopolitical tensions have, in some respects, worked in Hong Kong’s favour. Over the past two years, Chinese companies have increasingly pulled back from US listings, with many choosing Hong Kong. Anecdotal evidence points to a growing influx of overseas Chinese financial professionals and academics – many US-born or naturalised Chinese Americans – relocating to Hong Kong, drawn by its unique position as an East-West bridge.

Now, the city stands at another pivotal moment to elevate its international stature. This opportunity stems from the summit between Chinese President Xi Jinping and US President Donald Trump in Beijing in May. The summit set a more positive tone for bilateral ties, creating room for pragmatic engagement. Hong Kong should seize this window to repair and strengthen ties with the United States and its Western allies.

Relations had cooled after the 2020 national security law. US sanctions on Hong Kong and mainland officials, including Chief Executive John Lee Ka-chiu, damaged the city’s image and made many foreign leaders, businesses and tourists hesitant. While these sanctions had limited direct economic impact, they reinforced broader concerns about Hong Kong’s openness and predictability.

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