The answer is simple: “No.” In order to gradually switch on and off and maintain its status as a financial center… (delete 1,000 words below), the government wants to gradually relax epidemic prevention measures, and the original seven-day quarantine has been changed to 3+4. Although it is loose, but the effect is not very big.
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Compared with our previous state, it is more relaxed now, but talents are not the same, they are comparing the isolation measures in different cities. When most of the competitive financial cities are fully closed and masks are not required, our 3+4 will appear to have no competitive advantage, and there will naturally be harm.
Most importantly, we missed the moment. When the brain drained on a large scale, about half a year ago, cities such as Shanghai, Hong Kong and other cities were almost shut down. Talents were scared away at that moment. At the same time, most cities in foreign countries chose to coexist. Although the number of infections was rising, herd immunity was achieved.
Once a person leaves, it is hard to turn back
Once a person leaves, it is not easy to turn back. When they choose to move to Singapore or other financial cities, they have slowly settled down and began to adapt to their new life. The office is rented, the house is rented, and if you think about it wisely, they will not come back because of 3+4. Even if you go back, it will take a while. Even now that Hong Kong is fully switched on, we are maintaining the same level as other financial cities. To attract talents back, we must do more than other cities, and may provide more relaxed or more favorable policies to attract talents.
At present, 3+4 is still a troublesome quarantine measure. Those who are willing to go overseas will not come back after just a week of playing. It can be as short as a few weeks or as long as a few months. My IG friends are now having fun and playing overseas for a few months. All of them are leaving Hong Kong out of anger. It is better to arrange immigration by the way. The immigration policy in overseas areas has also been relaxed in recent years. As long as you calculate the date of residence required by the immigration destination, you will have to stay overseas for such a long time anyway.
Looking back, everything is relative, and we must make good use of the marginal perspective to see things in economics. For those of us in the city, compared to the previous quarantine policy of returning to Hong Kong, it is relatively relaxed now. The measures will not encourage the return of talents, but encourage us to go out for a walk.
We’ve been in the city for over two years and it’s time to visit friends and re-establish overseas business connections. Coupled with the crazy interest rate hikes in the United States, the dollar has strengthened, and the Hong Kong dollar has strengthened together because of the linked exchange rate. We are now very advantageous in spending abroad. 3+4 is difficult to encourage those who have left to return, but those who have not left just want to go out.
This column is published every other week