Opportunities for Hong Kong on sidelines of Xi-Trump summit in South Korea

Ahead of a hugely uncertain yet highly anticipated summit between the leaders of the world’s two major powers at the coming Apec meeting in South Korea, the big question is whether Chinese President Xi Jinping or his United States counterpart Donald Trump has more bargaining chips amid the global trade war triggered by the American’s tariffs.

China’s dominance in the rare earth market has proved to be the most effective tool in Beijing’s belt, although the US may still influence some countries, even including China’s “Iron Brother” Pakistan, to help supply this material that is critical for the production of modern technology. Europe, in its increasingly fragmented environment, has perhaps suffered the most.

Hong Kong Chief Executive John Lee Ka-chiu will be among regional leaders gathering for the Asia-Pacific Economic Cooperation summit from October 31 to November 1. He faces a daunting task to convince Apec leaders that Hong Kong has something to offer amid the intensifying geopolitical struggle between China and the US.

Hong Kong has no natural resources and suffers increasing collateral damage from the trade and tech war. Our city’s biggest asset is being Hong Kong – part of China but under the “one country, two systems” policy which enables its many unique roles, including as an international financial centre and the world’s freest economy.

However, listing out Hong Kong’s strengths alone will not be enough – seeing is believing in this regard. Lee has a chance to extend personal invitations to state and business leaders he will meet in Korea, but he can do more by asking Beijing to put Hong Kong on China’s list of host cities for visiting foreign dignitaries.

In diplomacy, every detail counts, and the venue is always telling.