Hong Kong as a modern megacity has for long been known for its dynamism and openness. Just like many other upcoming megacity in Asia, Hong Kong has found itself operating under the western economic system, and based on the economic and social differences (Elegant, 1997). This has made it experience some challenges in its economic growth endeavors. It is among the most advanced economic system of Asia. Hong Kong is strategically located at the heart of Asia. It has also been characterized by economic freedom, low tax regimes, rule of law, transparency, an increased use of the English language and finally the adaption of the western economic and social models. This dramatic change or adoption of the western economic and social models of development have brought to some extent a degree of triumphalism in Hong Kong and other key cities in Asia (Elegant, 1997).
In 2011, Hong Kong had seven million inhabitants; unlike the western countries where there is strategic planning by the government for such kind of population, Hong Kong has found its self with an increased house shortage. The western model that Hong Kong has chosen to emulate has led to some serious negative outcomes. This is because a city like London uses immense energy and resources to plan and mitigate for problems resulting from increased population. Such resources and energy are not available in abundance for Hong Kong (Elegant, 1997).
Due to the increased expansion of Hong Kong city, there is an unprecedented stress on the environmental resources like water, forestry and quality air. This has become an urgent problem to the city dwellers because it has led to affecting the residence health. This is another significant difference with the western cities where appropriate measures have already been taken to prevent human population in the cities from putting much pressure on the environment (Elegant, 1997).
The western growth model emulated by the Hong Kong is fundamentally lethal due differences in the social-cultural, economic and political background. The model has mainly been championed by the capitalist who have extended their influence worldwide (Clark, 1996). The model favors the use of resources, energy and the materials a situation that generates enormous waste. This is because of presences of large population as compared to the western countries where the model is normally used to determine levels of economic growth (Western, 2000). The industrialization in Hong Kong as a result of pursuance of the western growth model which focuses on wealth generation through enormous investment has essentially left behind many economic and social problems in Hong Kong. Therefore, Hong Kong has no choice but to reinvent the development course (Western, 2002).
Numerous world watch institutes have provided a distinct focus to Hong Kong since it has become a significant consumer of resources and polluters of the global and local ecosystems (Clark, 1996). It contribution to global levels matches those of other megacities such as New York, Paris and London, cities which uses western growth model in assessing their economic growth. The city needs to advance the policies, technologies and even cultures that now exist in the most western countries in order to enhance global sustainability (Western, 2002). Attempts to adopt these development policies have been discouraged by the existence of different social-economic and political context between Hong Kong western nations.
Hong Kong enormous sizes present a viable and stable place for economic and social achievement. The city contributes disproportionately to the national economic model growth and social transformation through the provision of economies of scale and proximity that allows the commerce and other key industry to flourish, a situation that is in accordance to the western growth model. However, there is a dire warning of an imminent social and economic collapse of the Hong Kong as mega city (Clark, 1996). This because when the Hong Kong city strives to uphold western growth model standards, other areas such as environment and health become adversely affected. The use of nanotechnologies creates immense implications on both the environment and health, which threats the sustainability of social and economic system (Clark, 1996).
In conclusion, Hong needs to redefine its economic and social development trajectory through the establishment of economic growth model that are relevant to its social, economic and political perspectives. This will ensure that its development programs hardly compromise the social-cultural wellness of its resident and its worldwide reputation (Clark, 1996).