Comments by "thomas grabkowski" (@thomasgrabkowski8283) on "De-industrialization was Hong Kong’s Biggest Mistake" video.

It's due to corporation seeking places to cut costs and they decided to move from developed to developing nations to do so
2
Actually all developed nations lost significant share of manufacturing jobs as corporations sought cheap labor in the developing world. Some, such as Germany did lose a smaller proportion of manufacturing jobs compared to other developed countries though
2
@ChairmanMo Mountains, which are unable to be built on due to steep terrain take up most of Hong Kong's land unlike Singapore which is very flat
2
Pretty much like the economy of the entire developed world
2
@Cotswolds1913 Anglo countries have healthier demographics than other developed countries due to the fact they do have higher birth rates than non-Anglo developed countries and more importantly their huge immigration rates, due to strong economy of the Anglo world, relatively liberal immigration laws and the popularity of English language worldwide, as a second language. So much so that the major Anglo cities are all known to be global melting pots
1
@Cotswolds1913 Yes like Hong Kong’s population is expected to start shrinking soon. Extremely low birth rate, very old population, more emigration than immigration
1
And if they do get good college education, they have to pay back student loan debt. Thus home ownership rates remain low among millennials and there's now huge age gap in terms of home ownership rates in which median age of people who purchase homes continues to steadily tick up
1
@bobmorane4926 Yes it's just this cycle that exists of manufacturing moves to a country, country gets wealthier, costs rise and then manufacturing moves into poorer countries to lower their costs while the country that is now wealthier moves into services and so on
1
Corporations always seek to maximize profits including cutting costs. As countries get wealthier, costs from land to labor rises, corporations then move to poorer countries where those costs are cheaper for manufacturing. Those wealthier countries then move to services. It's that cycle of development(pre-industrial(agriculture based), industrial(manufacturing based), post-industrial(service based)). Cities like London and New York used to have huge manufacturing sector. Now factories have largely moved to countries like China and those cities focus on service sector
1
@ChairmanMo Also the fact that Hong Kong is very mountainous unlike Singapore which is very flat. The mountains mean that their isn't much flat land to build on in Hong Kong
1
It's already happening in Korea, Singapore and Taiwan as factories are already leaving those countries for places with cheaper labor costs including China and southeast Asian countries like Indonesia, Thailand, Vietnam
1