I am aware of all that. The point is that the mainland's earlier economic policies were keeping people in poverty (just as in India). Then mainland China underwent massive reforms. But HK always had a good economic system that made people prosperous, even without any natural resources to exploit. So why not adopt that good system that has always worked, and continues to work? Even today, when Chinese economists and policy makers talk about further reforms, what they are advocating is moving further towards HK's economic model.It's all about the momentum.
In the earlier decades in Hong Kong, we had a system similar to the one now in the Mainland, or Singapore.
Now it is different. Hong Kong is already developed, and we lost our momentum.
What I see in the Mainland now is the same energy which once built Hong Kong, just look at Shanghai to see an example.
The Mainland government has brought what, 800 million people out of poverty? More than any other country in the history of the world.
Could the current HK system do the same thing? That would be a huge risk, and why take that risk when the Mainland system has already proven it can.
If HK's system was followed, there would have been no poverty in the first place. Look at S Korea's or Japan's astonishing rise since the 50s, and India's and China's pathetic poverty in those days. China later raised millions out of poverty only because they brought their economic model closer to what HK followed from way back.