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Hong Kong draws up first five-year plan amid warnings of central planning

Reported · Written up by our desk · Trade & Tariffs

Hong Kong is drafting its first five-year plan, prompting debate about whether the move signals a shift away from the city’s traditionally laissez-faire approach, according to SCMP Economy.

Yale University economist Stephen Roach warned in a recent commentary that “Chinese-style central planning” could “over-promise and under-deliver,” arguing that Hong Kong may be constrained by political dynamics, the outlet said.

In the article, David Dodwell says the controversy overlooks the need for a longer-term planning framework that can add strategic coherence as Hong Kong navigates changes in China and a turbulent global environment.

Dodwell also points out that long-range planning in Hong Kong existed during the pre-1997 period, citing the Central Policy Unit maintained by the British colonial government for long-term strategy work.

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