The Corner for Political & Business Views - Go All Out When Young

The assumption that one can still make their way to a carefree retirement, apart from owning a car and an apartment, after a few decades of down-to-earth hard work is definitely outdated nowadays. The previous generation would go all out and work their way up to the top. This formula, however, works no more in the present Hong Kong society. Hong Kong's middle class is almost dead. Asset polarization, as well as soaring housing prices and cost of living have led to the ongoing resentment in the society and an unpredictable future for young people.

I do not think Hong Kong is alone in the face of such a dilemma; instead, all fast-growing societies are facing the same issues. Many young people complain about the expensive home prices and high living cost in Hong Kong and find their wages not keeping up with inflation. It is their general opinions that the policies of the government are not tailored to the needs of the citizens and problems are left unsolved year after year, leading to the accumulation of discontent among Hong Kong people.

It is undeniable that there is an urgent need for solution to this structural problem. Yet, I would rather work out other means of improvement than to just feel sorry for myself. And here are my suggestions:

First, off with the dependent mindset — rely no more on schools for employment; rely not on parents to purchase property; forget even about receiving subsidy from the government. A passive mindset is always a hindrance to improvement. Second, allow not the environment to be a limiting factor to your development and keep adding value to yourself. Try picking up new languages and professional knowledge. An additional knowledge or skill brings additional opportunities.

In a society that changes rapidly, those who hang on to inflexible and conservative ways of thinking are destined to going backward. Seeking breakthroughs and seizing opportunities, on the contrary, are the only ways to survive. Hong Kong is still a very open society that allows all sorts of business to bloom. And if you broaden your horizons to the whole world, I believe you will realize the many different opportunities for both large multinational companies as well as small online shops in different countries. The wave of starting new businesses emerged in recent years and the support for start-ups from governments and various sectors has been increasing. Therefore, instead of being stuck with the development of the society in a passive manner, it is better to go all out when you are still young: take the initiative to seize every opportunity, move with the times and achieve your goals in life.

Chairman of Asia Allied Infrastructure

Dominic Pang

(This is a Chinese-to-English translation by Corporate Communications Department. The original article has been published in Headline Daily on 15 April 2019.)