Hoi Kum

China Is Betting on Megaregions to Escape the Middle-Income Trap

Bloomberg’s documentary argues that Hong Kong’s Northern Metropolis is not just a local development plan but a test case for China’s attempt to turn megaregions into a new growth engine. The project would convert rural land near Shenzhen into a technology hub linking Hong Kong more tightly to the mainland’s Greater Bay Area, an 11-city, $2tn economy. The source presents the strategy as a bid to escape slower growth through concentration of people, capital and ideas, while showing the displacement, political constraints and institutional frictions that come with it.