Severo Portela
As the low-budget season comes to its end, we guess it is the appropriate time to try pinpointing the trends that made 2015 different enough to be remembered as a changing year. And forget about that little detail of the GDP contracting for the fifth straight quarter taking the MSAR into a technical recession… it is not a trend, it is a bend, a downwards budgetary bend.
We have to highlight a propensity to handle things differently from the long established notions in the political arena, meaning the Legislative Assembly floor, although we could extend it to the nebula of civic associations and to the general commentary. Exceptions are not welcome. From the moment Chief Executive Chui Sai On gave room and rope to his second team of Secretaries, public policies have been open to scrutiny like never before. This all probably as a consequence of a growing public discontent regarding the basic quality of life and the vacuum of democracy at home and across the Pearl River Delta.
But in spite of invitations to speak about the issues, the virtual contenders and sparring-partners, resort to the same antics of just questioning the figures, ignoring in the process the quiet transformation – lately not so quiet at all – going on in the MSAR.
If Macau fails for a lot of different reasons to close ranks around the core values, praxis and tools that make it a “second system”, the “first system” will make it the second just in name… by gently applying the theory of everything.
Even with the 2019 factor hanging over us, legislators and others keep arguing about the numbers. One has to wonder what they will do when there are no numbers to play with!
The head of the Chinese Liaison Office, Li Gang, does not give numbers, but gives plenty of stuff to consider. We recall that back in October Li mentioned measures “to revitalize the Region´s continuously sluggish economy”, and that later on the local government announced a five-year plan to transform Macau into a World Centre of Tourism and Leisure. This development plan incorporates advice from the National Development and Reform Commission, Tsinghua University and other agencies. It was also known that the plan took China´s five-year plans and other studies on the “Centre” policy as reference points in formulating future development. Finally, Li Gang said a few days ago that the central government had set up an ad hoc body aimed at supporting Macau’s economic development. Li declined to offer details, much less numbers.
Finally, a brief note on the apparently brief detention of the CEO of the Fosun conglomerate, even though it is not clear yet whether he was taken in for disciplinary investigation or if the questioning was about other people. He would not be the first tiger to fall in disgrace under President Xi’s crackdown on corruption, and probably will not be the last. We have a disclaimer: if this is the case of Guo Guangchang.
But we do have to remark that the fallout from his absence was limited to a brief freeze of the Shanghai bourse and a mere wait-and-see from abroad; that is to say, Fosun has its own gravitas despite he who takes the helm.
On a bitter note, we dare to guess the corporation that spent US 5.7 billion over two years acquiring insurance assets, including the Portuguese “Fidelidade”, providing (according to the Bloomberg) low-cost funding for acquisitions in other industries, will have to shift its investment spree back to the mainland.
P.S.: And on a musical note, they say that the Rolling Stones rolled over to a bit of censorship upon their 2006 debut in China. They say they were precluded from playing five songs: Brown Sugar, Honky Tonk Women, Beast of Burden, Let´s Spend the Night Together, and probably Rough Justice.
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