Vaudine England - Fortune's Bazaar

20 Jan 2025 · 1 h 17 min

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Podcast Summary: A Book with Legs - Episode Featuring Vaudine England

Episode Title

Vaudine England - Fortune's Bazaar

Podcast Overview A Book with Legs is a podcast by Smead Capital Management that delves into the world of value investing through literature. Each episode features authors discussing books that have influenced investment philosophies and decisions within the Smead team. The podcast aims to provide insights for investors and thinkers at all levels.

Episode Description In this episode, journalist and historian Vaudine England discusses her book *Fortune's Bazaar: The Making of Hong Kong*. The conversation explores pivotal moments in Hong Kong’s history, the multicultural origins of its population, business culture, and recent political changes.

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Key Themes and Discussions

  1. Historical Context of Hong Kong
  2. Vaudine's Background: Vaudine England, with extensive journalism experience covering Hong Kong and Southeast Asia, reflects on her personal connection to the region dating back to her parents' time there in 1979.
  3. Motivation for Writing: England's book addresses the complex history of Hong Kong, emphasizing the rich tapestry of its multicultural identity and the importance of documenting the diverse ethnic groups not typically recognized in historical narratives.
  1. Ethnicity vs. Race
  2. Conceptual Framework: England references historian Charles Hersham, arguing that ethnicity, defined by shared culture, faith, and language, is a more accurate lens through which to understand Hong Kong's societal structure than the rigid concept of race.
  3. Cultural Intermingling: The discussion highlights the porous nature of Hong Kong's ethnic groups, where identities often blended, defying simplistic racial categorizations.
  1. Colonial Dynamics
  2. British Sovereignty: England discusses the British colonial rule and its impact on Hong Kong's development, particularly following the Opium Wars that led to Hong Kong's establishment as a British territory.
  3. Japanese Occupation: The brutality of Japanese rule during World War II is contrasted with British colonialism. England details the harsh realities of life under Japanese occupation and the drastic population decline during that period.
  1. Business Culture and Tycoons
  2. Sassoon Family: The story of the Sassoon family illustrates the interconnectedness of various communities in Hong Kong's early economic success, highlighting how different ethnicities contributed to the city's development.
  3. Influence of Mixed-Race Individuals: Characters like Robert Ho Tung emerge as significant figures who navigated their mixed heritage to establish successful business careers in Hong Kong.
  1. Modern Implications
  2. 2019 Protests: The episode discusses the implications of the 2019 protests and the suppression of freedoms in Hong Kong under Chinese rule, expressing the spirit of resistance among Hong Kongers.
  3. Impact of National Identity: The conversation touches on the changing demographic landscape of Hong Kong, with increasing numbers of mainland Chinese immigrants influencing local culture and social dynamics.
  1. Future of Hong Kong
  2. Ongoing Resistance: England remains optimistic about the resilience of Hong Kong's identity and the potential for future acts of resistance against oppressive governance.
  3. Business and Governance: She emphasizes the essential role of freedoms in sustaining Hong Kong as a vibrant trading port, posing the question of whether such freedoms are merely the icing on the cake or foundational to its success.

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Conclusion The episode concludes with England discussing her future writing projects and her intention to explore the evolution of port cities globally, questioning the necessity of freedoms for thriving commerce.

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Key Takeaways

  • Cultural Complexity: Hong Kong's history is marked by a complex interplay of different cultures and ethnicities, shaping its identity and societal structure.
  • Historical Narratives: The importance of documenting diverse histories to prevent erasure in the face of political shifts.
  • Resistance and Resilience: The spirit of Hong Kongers persists, showcasing a shared identity that transcends ethnic backgrounds.

Call to Action Listeners are encouraged to explore *Fortune's Bazaar*, to gain deeper insights into Hong Kong's layered history and ongoing struggles for identity and freedom.

For more episodes of A Book with Legs, visit [Smead Capital Management](https://smeadcap.com) or follow on platforms like Apple Podcasts and Spotify.

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Transcript

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0:02You're listening to A Book With Legs, a podcast presented by Smeed Capital Management. At Smead Capital Management, we advise investors who fear stock market failure. You can learn more at SmeadCap.com or by calling your financial advisor.

0:21Welcome to A Book With Legs podcast. I'm Cole Smead, CEO and Portfolio Manager here at Smead Capital Management. At our firm, we are readers and we believe in the power of books to help shape informed investors. In this podcast, we speak to great authors about their writings. the late, great Charlie Munger prescribed using multiple mental models and analysis. We analyzed their work through the lens of business, markets, and people. Today, we will discuss the messy and often awkward history of the greatest port city in Asia, Hong Kong. Vadin England is joining us to discuss her recently released title, Fortune's Bizarre, The Making of Hong Kong.

0:59Dr. Vadin is a career journalist covering Hong Kong and Southeast Asia. She's reported for Time Magazine, Newsweek, BBC, Reuters, and the South China Morning Post. She holds a PhD from Leiden University in the Netherlands. She has published one other book, The Quest of Noel Croucher. Vardine, thank you for joining me. Thank you very much. I love to hear how you love books. Oh, I appreciate that. And you're joining us, obviously, from the Netherlands, correct? Yeah, absolutely. So, you know, you have a lot. You've done a lot of research. You've obviously covered these places a lot. So I kind of highlighted that in your intro.

1:37And this is a broad history. I mean, you did quite a bit of work over various periods to draw in sources for this. And so as I was going through this, I thought, gosh, there's family history. There's city history. There's just ethnic history. How did you – what inspired you to bring this into one place? And I would say do it very briefly too. Well, yeah, you're right that it was quite a process also over quite a period of time. And when I think of where it all began, I mean, you can go way back to something like 1979. My parents lived in Hong Kong. Okay. And they used to go to church with a guy called Carl Smith, who was this rather huge American pastor, actually.

2:26He'd come out to Hong Kong for the American Church of Christ in China. But he went off piste. He went into this whole thing of genealogical history of, like, who are the people of Hong Kong? Sure. And he made little index cards for every name he came across and traced all their families. He had tens and tens of thousands of handwritten index cards in his apartment. And at that point, my parents used to say to me, I was not interested in any of it, not the church, not the history, not anything. Sure. But they used to say that, you know, at some point, you know, Carl's getting on, someone's going to have to take care of his index.

3:03Oh, God. But of course, I kind of ignored it for several decades, being a journalist all over, not only in Hong Kong, but in Southeast Asia. Yeah. And gradually, of course, I got to know some of these people whose names I'd first heard from Carl. Or I interviewed certain families and I thought, oh, that's kind of weird. How come you're here and where did you come from? Sure. And why are you a different kind of, I mean, you seem like another kind of Indian, but actually you've been here longer than most of the Chinese people I know. And, you know, so these sorts of questions evolved over many years.

3:37And then gradually I hopefully also evolved from daily news into doing much longer historical research projects and actually indeed getting to know some of these families. And so gradually it dawned on me that there was this rather huge story about the beginning of Hong Kong that had not yet been told. And of course, as a journalist, you get seriously hooked on, oh, God, nobody else has told this story. I've got it. It's a scoop. It's different on a historical scale, of course. But what also affected the whole motivation to try to bring this all together was the fact that as Hong Kong was changing, You know, it was a British colony for almost 160 years.

4:24And then in 1997 was reverted from British sovereignty to mainland Chinese sovereignty. And with that came, well, too many things to mention here and now. But one of the things was that Beijing always says, you know, Hong Kong was always just another Chinese city. It was always Chinese and it was a Chinese city. And I was thinking, well, actually, that can't really be true. Do I know sort of fifth generation Romanian Jews here who have been here a whole lot longer than the vast majority of Chinese people of Hong Kong? I mean, at no point am I trying to deny that the majority of people in Hong Kong have always been in some way ethnically Chinese.

5:07But clearly there were a whole lot of other people who were also part of this story and whose story was being actually wiped out by political events and by nationality laws. and all kinds of other things. And I thought, gosh, if I don't grab this stuff quickly and pull it together, a lot of this really rich and diverse and just like really interesting social family history is going to be lost. So that was a primary motivation. Well, and to your point, there's a big difference between saying that something's a majority Chinese versus exclusively Chinese. And that'll kind of tee up my next question.

5:46I'm going to quote your book. You're talking about another historian here. You say, quote, Charles Hersham has argued that ethnicity with its meaning of a social group with shared culture, faith, and language is a much better concept than, to our discussion just a second ago, race. Because it is explicitly subjective. It acknowledges multiple ancestries and it recognizes that ethnic groups are porous and heterogeneous, end quote. Yeah. Teach our listeners what that was to Hong Kong. Because to your point, you know, those groups were there, but those groups could become part of another group. And therefore, the ability to use race as a way to codify familial history became almost impossible at times.

6:30Yeah, it took me a while, honestly, to kind of get a handle on it and also to find the courage to actually contradict a lot of the really established historians on Hong Kong. there's a guy I quote he talks about how Hong Kong is such a wonderful success it's a tale of two cities you've got British Hong Kong over here and you've got Chinese Hong Kong over there and they each go their own way and do their own thing and this is why Hong Kong is so successful and you know maybe it was a sort of a journalistic mind or something and it was being a little bit simple and I was thinking yeah but hang on a minute to be brutally frank I mean half of them are sleeping together every night, how can we actually separate these communities in that way?

7:16And that was a starting point because if you look also just at any of the famous literature of Hong Kong, and I'm talking fiction, it's always about mixed race. It's always mixed relationships. It's always the appeal of the foreign, whichever way it's going, of the Chinese for the Westerners or the Westerners for the Chinese, plus all the other different community, cultural, faith groups that were absolutely vital to making Hong Kong what it was in the very earliest years. Because this was not a place that was already established as a city before the foreigners arrived. There were very few, there were, I think, the most ambitious number There was something like 5 ,000 people on the island of Hong Kong, which is now home to almost 8 million, but, I mean, all of Hong Kong.

8:09Yeah. So there were about 5 ,000 fishes, fishermen, farmers, what we might call smugglers or pirates, but basically people living off the sea and off a bit of the edge of the land. It was not a city. Yeah. And then through, indeed, the opium war and British aggression in southern China, they got the island of Hong Kong and foreigners came. Chinese followed. And some of the parts of Chinese society that didn't feel they really had a stake in China, they came as well. These were the first people who came and sort of built the first things in Hong Kong. So gradually you realize that talking about the so-called British and the so-called Chinese just doesn't cover it because, first of all, there's a whole lot of different Chinese and there were different segments of who came and who chose not to and who was not allowed to.

9:06And there's a million different kinds of whatever you might mean by British. Sure. Plus there's all sorts of other groups involved as well. So it becomes much more interesting, actually, when you get into the new ones. But to do that, as you rightly note, you have to start thinking about race in a kind of, in a, well, which is a weird thing to think about. And an American concepts of race are also quite different to, uh, non-American because each, each culture has its own interpretations of these words because you each have a different historical experience of what these things mean. Well, as you point out, like you could ask your cousins and their cousins might call you a half-blood and what they mean by a half-blood might not be the same as what you know harry potter heard from people for example right yeah absolutely and and in fact originally i'm i'm from new zealand now so i mean i'm clearly a product of empire i appear to be white and everything yeah so and my ethnic history is is english and scots as far as i know um there might be some German, who knows.

10:15But nowadays in New Zealand, you know, there's a much greater awareness of the group before us, the Maoris, and they have rights as they should, and the language is much more prominent than it was when I was growing up. And now, you know, how do you define if you're Maori or not? And there's this sort of, well, is it 10 % blood or is it more, you know, these kinds of debates, I mean, they're huge everywhere, but they're affected differently in different places through different histories. Yeah. But I think the other thing too, you find it came a lot more time in your book. It was how the person wanted to espouse themselves or identify themselves.

10:56And we'll get more to that. But I think that's an interesting context to think. What's the culture that they most enjoyed? And then secondly, I think the other question you could ask is beyond what they enjoyed or felt most comfortable with, which culture helped benefit them the most. And I think that's a kind of a, maybe like a framework for thinking about some of our discussion. Really quickly, I want to hit on this though. The British invade Hong Kong effectively, you know, in the Opium War, but that wasn't royal policy, right? It's not like the king was like, I want Hong Kong. And why was that more of an accident?

11:33Okay. So, well, to be precise, They didn't actually invade Hong Kong exactly. So up the coast in what is still China and what was then called Canton and is today Guangzhou, same place. It's up the Pearl River. It was the only place in China where foreign traders could do their business for a long time. And I mean Guangzhou has got a rich and fascinating history all of its own. and there were all sorts of rules that constrained and confined foreign traders to just one tiny little part of Canton and for only part of the year. And originally, of course, it was all about tea and silk and increasingly it became about opium.

12:24Sure. And the British in particular, although not only, there were Dutch and there were Americans and there were Portuguese, But they refined this system of how they could sell opium into China and in return get silk and tea and other things they wanted out of China. So traders in Canton were getting very frustrated about all the restrictions. The Chinese empire was trying to stop the opium trade, although they went back and forth. And of course, there were a lot of Chinese traders who were doing very well out of it. Yeah. The British trade has basically persuaded the British government to go to war to lift in the name of what they called free trade.

13:12Sure. Now, I'm sure, as we all know, free trade means different things to different people. As we're learning today, right? As we're learning today. That story never goes away. But to them at that time, it meant free trade to shove opium into China. So that's why the British basically invaded up the Pearl River. It was a complete mismatch that was so technologically further ahead that it was just about a wipeout of the Chinese at that time in that place. And to make a deal to finish that war, part of the treaty that ended it was to give away the island of Hong Kong. Sure. Allegedly in perpetuity, I mean forever, but as we've also seen that didn't last.

14:00And so that's how Hong Kong became a British territory. Sure. And initially, from the British side, what's really fascinating about all of that is that both the Chinese government at the time and the British government at the time were thinking, well, we didn't want this silly little island of Hong Kong. And both the negotiators, the British and the Chinese, really got into trouble with their own governments for that deal. And, you know, we're not terribly interested in it. And a lot of the British traders just wanted a place to moor their ships. The whole idea of Hong Kong becoming what it became was, I mean, very few people had that vision at that time.

14:40It evolved because of the people I'm talking about who came and made it. But right from the beginning, in some ways, it seems that the Chinese knew of the possible importance of Hong Kong. because I think as you noted, well-to-do Chinese families were not allowed to migrate to Hong Kong. In other words, they knew that that was not a good thing, but obviously the flow of capital and people was going to Hong Kong over time. Yeah, I think what's really, I mean, and it really shocked me when I was first told this and I had to check it out and see if it was really true. You don't actually get a majority of Chinese people born in Hong Kong until after World War II.

15:23Wow, interesting. I mean, Chinese people would come to Hong Kong. They might stay for years, but they would always go back to China and would want to be buried in China. The whole thing about your ancestors and your ancestral village and all that. And, of course, family, you know, maybe the guy would come, but not the whole family. So the whole context, of course, is that in China at that time, there was the Taiping Rebellion, there was huge upheaval, violence, insecurity, lack of food, etc. So of course if you were not safe or wealthy, then you would go somewhere else to try to make a new way of things.

16:04So people would come to Hong Kong and make a go of it or not and maybe go back to China. There was a lot of back and forth. There was not a problem early on. You talk about how it was almost like people were almost Bedouins where they would come to town, they would do their business, they would make their money and they would go back to where they're from. So there was almost a roving aspect of Hong Kong, which again, if I think about that paradigm in the early history of Hong Kong with that being true, I think of that's a roving group of people. And then I think now, well, this is stasis. You're very much there and you're not moving because you're there.

16:46and the people that used to rove, they're gone. Yeah. Now, I think also, you know, different times in history you have to make, sometimes you have to make a choice. You've got to be here or you've got to be there. Yeah. But lots of people, lots of times like to kind of stay flexible. Yeah. Who wouldn't? So, and then, of course, don't forget, this is, you know, in the 19th century, it's before this whole idea of nation states was really locked down. It's before the whole issue of passports and national identity and that kind of nationalism, nationalist thinking has really taken off. That's more early 20th century.

17:28So that first sort of 60 years of Hong Kong in the 1800s, that was a time when you could be more flexible. However, the people who did actually get to Hong Kong and stay there also from the very beginning are, of course, people who did not have somewhere to go back to. They were not from China just next door. They were from, you know, Persia or today's Iraq or from, you know, Armenia or from parts in India to which they couldn't return for some reason or other. So, of course, they put down roots. Of course, their families are now five or six generations or more because they didn't have anywhere else.

18:07And so that's why those people are important because they put roots down and they grew and developed with Hong Kong. Touching on that, so to your point, you have the Parsis, you have the Armenians, you have Jews, you have Portuguese that had their influence in the culture beyond the Chinese, the Malays, I mean the Indians, etc. What was the Sassoon route, the Sassoon family, what was their route to get to Hong Kong? because you do a really wonderful job in your story talking about how a family started here, they went here, they went there, and then here's how they ended up in Hong Kong. And then you even tell the story of when did they leave and why did they leave and where did they go on?

18:50Yeah, yeah. Now, okay, so Sassouans, originally, of course, Jewish, were in Baghdad and were very prominent in Baghdad. and the original, I mean, I would say David Sassoon was treasurer to the emirs and so on who were important in Baghdad at the time but gradually realised, not going to be safe there for much longer, let's start moving on. And, I mean, of course there's something specific to Jewish clans and there's several in Hong Kong who are less well-known but perhaps even more wealthy than the Sassoons who have gone through similar routes, you know, where basically every generation has had to move on for one reason or another.

19:38Anyway, Sassoon's moved from Baghdad first to Basra in the south and then from Basra across the ocean to Bombay. Now, in India, in British India, or rather British-ruled India, let's be precise. Sure. So, and in Bombay, that's where they started making some of their first fortunes. They were not just being a middleman, but actually having the warehouses where other people could also store goods. So they invested in fixed property in Bombay. They actually had property there. They then also went into cotton mills and, you know, the whole business. I mean, not for today, but of the cotton industry in Britain and India competing with each other, et cetera, et cetera.

20:27And the cotton mills of Bombay were incredibly important. And so in Bombay was for several generations a good place for the Sassoons. But, you know, what's also very important in family dynasties is you've got to have the kind of wife who can blithely sit down and produce 11 sons or something, which is beyond my imagination. But there were a lot of Sassoon sons and they went, you know, one went to Singapore. There are still Sassoons in Singapore. Others went to Shanghai. Others went to Hong Kong. and others were in different parts of the world. The Shanghai guys, you know, encouraged the next generation of Sassoons and then you've got the ones who come to Hong Kong and so on and so forth.

21:09It only starts to fall apart when you start running out of sons because, of course, unfortunately, they didn't take their daughters seriously. Sure. But they then moved into, you know, out of cotton into opium and then much later, by the time of the 1930s and 40s, You've got Sir Victor Sassoon in Shanghai having quite the good time and with his hotel, the then Cathay, now Peace Hotel and so on. These places and these lifestyles are so, by this stage, luxurious and exotic and marvellous. They're great fun to write about. And then a large chunk of the family moved to Britain and became very established as sort of eventually, you could say, buying their way into the British aristocracy and the power system there.

21:56So they're just one. And of course, through them and through their networks, because what's important, I realized as I went along, it's not just individuals or families and even faith groups, but the networks that these people build, sometimes just within their own faith group, but often with others. So under the Sassoon umbrella, other young Jewish guys who had followed similar trajectories also followed them from Bombay across through Southeast Asia and up to Hong Kong. Sure. And then, you know, Jews were doing business with Parsis who they met in Bombay because Parsis had come out of Persia.

22:37You know, these are the Zoroastrians. I mean, it's a completely different faith group, but they all come together in Bombay and then they do business in Hong Kong. I mean, why wouldn't you? You know each other already. So you get these really interesting mixes. And today, I mean, these are still important people in Hong Kong. Yeah, no, I totally agree. So let's, I want to pivot because you touched on this earlier. You talked about everyone sleeping with everyone. Um, so miss, I opened the newspaper in Hong Kong and Mrs. Randall is selling honey and other alcohols, okay. Which I thought was just like adorable and funny and pithy.

23:13And yet she's running her business. What does it, what does, what does Madame Randall mean when she's selling you honey? she is selling beautiful jars of honey in other words beautiful women she's selling sex right she's running a brothel and this was how she advertised her services so I mean some parts of this story are kind of obvious and common to every port port city in the world yeah most of their working people are men they haven't brought their own families and there will be women who will be sent or brought in or who will bring themselves to service that trade. Sure. In Hong Kong, there are particular sort of aspects of it which are peculiar to Hong Kong because of its proximity to China and because of the way women were, let's say were, to some extent sometimes still are, treated in a Chinese cultural context, there was very little choice involved for a lot of these women.

24:25In modern language, you would say they were trafficked into Hong Kong. Yeah. And they were treated badly. They had no rights, et cetera. Mrs. Randall's ladies were probably not only Chinese because, of course, women turned up from, you know, over the top of the Eurasian continent through out of Russia or Eastern Europe. They'd come down through China. They'd end down in Hong Kong. Sure. Or they might have come from elsewhere. I mean, I always find when you're doing a historical investigation, if you can put yourself in that position and think, oh, what if I had been there 175 years ago? Where would I have ended up?

25:11Same, like for you, you might have... Yeah. You might have been an opium trader doing business with the Sassoon. I might have been a missionary or I might have been a hooker. I mean, I don't know. Yeah. Well, to your point, you mentioned on the Chinese front. So from a Chinese cultural perspective and a legal perspective, women were effectively bought and sold like property is what you lay out in the book. Yeah. And while there were aspects of that in Hong Kong, the idea for example of a protected woman was a unique social and plausibly legal status which was different than a prostitute further as you kind of go along the spectrum so you have like you know your wife and a prostitute you then have a mistress which is something more than a prostitute closer to a protected woman and you might end up having a second family with that protected woman or just a whole nother woman.

26:06And so, you know, I said messiness to open our, our conversation, the familial history, both ethnically is messy, but just sexually is so messy. And right. So I think of like, as soon as you enter prostitution in, you know, that multiple children are coming, multiple families are coming. And I think you do a really wonderful job of, of discussing. And I think the story that came to mind was like, uh, you talk about James Endicott, for example, and his wife, Ng, um, maybe kind of give us a picture into Ng to understand how much power this actually gave her to be in this position, which seemed a weird place to be for maybe you or me, if we were a woman at that time, for example.

26:50Yeah, no, I mean, I gotta say it's, it's one of the still really untold aspects of the early history of a place like Hong Kong, is, of course, the women. And it's so frustrating because, of course, they're mostly illiterate, so they're not writing things down. We're not hearing their voice. It's very rare. And this case you mentioned, Endicott's lady, Ng A Kiu, she makes it into the record because she was arrested, so it's in the newspaper. So that's why we know about her. Otherwise, it's very difficult to trace the story of a lot of these women who frankly I think were just amazingly strong and determined and impressive.

27:35You know, having started out having to, you know, A, sleep with foreigners, which can be sort of shocking, and not having any particular choice about who or when. But some of these women who managed to become a protected woman of a single foreign merchant were then in a better position. She was in this position. And she had her own brains and she started trading on her own account. Now, I mean, James Endicott, who's from a very respectable American family, he was also in the opium trade. She managed, well, it's a long, complex story, but she had an opium cargo that was stolen by pirates. So she goes off and confronts the pirates.

28:22I mean, who would dare to do that? Exactly. Through ups and downs, she eventually gets the value of her goods back. But in the course of this, she's arrested by, well, you know, it's really complicated. There are British laws, there are American laws, there are Chinese laws. So who's liable to what? Sure. And again, it's exactly as you point out that, you know, race is a very sort of mutable thing. It can become all sorts of different things at different times in different ways. Gender, I mean, or at least sexual choices can become mutable. And, of course, identity. I mean, national identity. Oh, well, I don't want to be under British law where they're fine with trading opium.

29:04So, actually, maybe I do want to be under British. I don't want to be under American where they say they're not fine with it, even though they're doing it. And the Chinese is something else. So you kind of try to choose the legal system to get caught under. Yeah. Anyway, she played all this to her own advantage very well. And she, in the end, was let off with no problem whatsoever, was able to keep the proceeds of her trading, and was able to invest in property in Hong Kong and also support other women like herself. They formed kind of sisterhoods. Sure. Sure. But the other bit of that story that I find really amazing is that, you know, James eventually realizes that probably for his career, or at least for when he's going back to America, he needs an American wife.

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29:50He can't bring his Chinese lady with him. and he marries Sarah. Is she American? And then she, his white wife, to be blunt, takes on the care of his mixed-race children, i.e. some of the children he had with Inga Q, knowing full well where they come from and caring for them as well. I mean, and she says, it's a beautiful thing that they actually, they all know exactly what's going on and she shares the whole Motley Crue, which I find really interesting. And meanwhile, Inga Q lives to a nice, wealthy old life in Hong Kong. Yeah, it makes me think of the classic rock song, Love the One You're With.

30:34And that was very much a theme throughout your book, I would say. Oh, I was thinking, you know, she worked hard for the money. Yeah, well, that'd be another one. um yeah so uh you know probably my favorite picture of a eurasian family uh is you know comes out of out of hotong can you teach us you know who is his father who is his mother and then really what did he become i would say from a cultural perspective and then also from a business perspective right yeah robert hotong so uh i mean first of all he made up his name of course but his father was one of these Western traders who did not do the right thing by the euphemism.

31:18I mean, protected woman is a phrase, is a euphemism. You're meant to be protected, but often you're not. So this guy who, sadly, I'm now in Holland with my Dutch husband, but he was a Dutch, probably Jewish Dutch trader called Charles Bosman. and he had a local lady. We don't even know her full name, Zae, I mean S-Z-E. And he, you know, he slept with her for a while and then he left and left her literally holding several babies. You know, and he disappears. She has no money. She has to, of course, find a new protector of some kind. But what is amazing about her and so many others, like Inang Kiu, who we were just talking about, But she made damn sure that her kids were educated.

32:08So she put the man we now know to be Robert into a school where, and this is another thing, I kept on finding things that were quite positive about British colonialism, which kind of shocked me. I think, oh, actually, that wasn't bad. You know, they actually had these schools that, okay, were not for girls, so that's obviously always a problem. but boys of all different races were all able in different faiths to go to this school and get an education, central school. And so Robert and a lot of boys in his situation, mixed race and so on, that's how they got educated. As entirely bilingual beings, and I don't just mean they spoke two languages, they lived two cultures.

32:56They could go from one to the other any time. And I think this is the point that many people find impressive about these people, they can almost sort of get up in the morning and just say, well, today I'm going to be Chinese. I'll put on Chinese clothes. I'll speak Chinese or whatever. Or, you know, by lunch I'll be Western. I'll change into a proper suit or, you know, whatever. They went to these schools and they got educated and they became usually, I mean, there's this phrase, there's this word comprador, you know, loosely translated as middleman, but it's much more than that. It's a complete sort of crossover kind of personality, someone who understands local ways of doing deals, local sources, local habits and idiom in the broadest sense of the word, but also understands how to deal with different kinds of foreigners and get what they want.

33:50And if you're in that middleman position and you are able to keep everybody happy and you're also literally allowed, which is the case, to trade on your own account, then you can make a fortune. And Robert did. He was a comprador for the biggest trading house then, and some would even say not until this day, but for a very long time, which was Jardines, still, as you know, in London and all over the world, especially Indonesia. And he was able to, partly, I think, because he had an older sister who'd married a Scotsman, or at least was the protected woman of a Scotsman. It was a grey zone, you're never quite sure.

34:34So he made his first fortune with Giardines. He then went independently into trading on his own account. But he had brothers, half-brothers, and of course offspring, because he had at least two wives and God knows how many mistresses. So he became this great patriarch, And he quite deliberately went out to create a family clan and create a family name, Ho, Ho Tung. So he's got brothers who are Ho Kwok, Ho Kung Tong. And then to sort of organize through very judicious marriages, connections with other important families. I mean, you know, I would do great big sort of colored flow diagrams. trying to follow where these people went and how they interconnected.

35:27And it was quite the nightmare. By the way, on that subject, so when people say, like I think of the Barbie movie more recently, when people say patriarchy, there is like, I'll call it like a, I will say a white Western colonialism that goes with that. And when you say patriarchy with Ho-Tung, Robert Ho-Tung, it is a vastly different picture of patriarchy. okay uh yeah it's one of those words um so yeah to me a a patriarch is just a male dominant figure who's going to run all our lives whether we like it or not sure sure and uh in chinese culture they do it a lot um and uh you know everyone's organized to play their particular role in a vast family complex whether any of those individuals like it or not well with with robert though i think you had a letter or a statement he had made i can't remember which was but you quote it in your book it you know part of i asked the question was part of the reason that robert you know rep like at least most often was you know in pictures seen to be chinese it seemed like he had a lot of daddy hurt from his father who was never present I was kind of like, I was making my little annotations as reading your book and I put daddy issues in his section of the book.

36:52But to your point, I mean, he didn't just organize his children. He organized his brothers. He made sure his children were placed into, I'll call it business alliances, social alliances, social arrangements. And again, like we talked about before, he looked white or British in many respects and yet dressed traditionally Chinese in all the pictures he's caught in. One thing we haven't, I mean, we're talking freely about all of this now. And I could write that book in recent years because some of these families involved are happy enough to talk freely about these things now. Sure. But then was a whole different context of prejudice and social hierarchy.

37:40I mean some of these guys like Ho Tong became richer than anybody else so it sort of didn't matter that they were mixed race but in their own minds it did and so what Robert has said at one point early on was that according to one of his daughters was that he chose to quote be Chinese because he knew they would never reject him whereas if he tried to pretend only to be British he would never make it I'm paraphrasing it's not exactly what he said but but that I mean and it's of course true there's a slice of Britishness which is utterly snobbish and obnoxious and uh you know oh you're really not one of us and I mean uh you know you didn't go to the right school I don't have the right accent for example yeah unaccepting unaccepting that's for sure um whereas a Chinese is ethnically, even partially ethnically Chinese, you're probably not going to be thrown out.

38:44That was his calculation. But, of course, he played it both ways to suit him, however it played. I mean, he just loved to be knighted by the Queen in England. Plus, he got all the awards, honours from the Chinese dynasty. And he spent huge amounts of money on all kinds of things, whether they were British or Chinese or something else, to make sure that everybody loved him. So he played all sides of every coin. Well, yeah, him and his wife's golden anniversary for their wedding at the Peninsula Hotel. I mean, as I'm reading your book, I thought, well, that would be the party that you'd want to be at.

39:22Because obviously the Peninsula Hotel is still there. And so, you know, much of this, I think the other thing I loved about your history is we don't have to look very far to find where the legacies of these have continued to seep through in the lines of the history of Hong Kong. I want to pivot a little bit because since I'm talking about the Peninsula Hotel, obviously Kowloon was dominantly made by the reclamation of land. And that has been a very common thing in parts of Hong Kong. How would Reclaim Land go about? Was it just someone buys up all the waterfront and decides to reclaim? Was it opportunistic because they had extra dirt?

40:00How did that go on? Oh, huge, huge question there. I'll try to keep it tight. The government early on thought, you know, we've just got this tiny little sliver of land on the north side of Hong Kong Island, which we now call central. And then they wanted to reclaim, but they couldn't make a deal. One of my favorite guys in the book is this guy, Paul Chater. Yep. And he is, again, a beautiful mix. He's an Armenian from Calcutta who comes to Hong Kong in 1862. And he'd been trained as an orphan, as a surveyor. And so he had this concept of, you know, how you lay out land and so on. He had some skills.

40:47Plus, by the time late 1900, 1800, sorry, late 19th century, Yeah. He by then had, of course, made a few fortunes and had all his contacts and networks, both among merchants and in the government. And he was able to make a deal that suited both, whereby merchants who had waterfront sites, because a lot did from early on. their boats would just literally, you know, come up to the bank on the land, on the island and unload and there's your sort of go down your warehouse and that would be it. Okay, things evolved, got more complicated. If you're going to make new land in front of my waterfront site, then I want to keep that right to the water.

41:39Yeah. And so I need to guarantee from you that when you put more land in front of me, I'm still going to be on the waterfront. So I'm going to move forward, right, without going into complex property law. Trader worked out a deal whereby merchants and government would each benefit from basically adding what we now call central. I don't know if you remember where the tram line goes, but everything between the tram line and the actual water now is new land. Yeah. And it's some of the most valuable real estate in the world. and what I mean it's quite simple they'd chop off the tops of mountains and bring it and dump it in the sea I mean that's how you and you talk about Chater would literally take a cliff edge knock it off and they'd bring it out I think the other thing too is there were there would be some time to time fires and so out of the rubble of areas that have been decimated they would then take and supplant that land elsewhere to clean it up I think you talk about a creek bed that you know, they end up covering up because again, created more land.

42:48Yeah, absolutely. And I mean, it's happened several times since. And in fact, the whole sort of harbor of Hong Kong, the gap between the island of Hong Kong and the tip of the Calhoun Peninsula is now about half as wide as it used to be. And, you know, it's an incredible temptation, of course, to governments to just make new land. Wouldn't that be nice? It's good. It's good for property taxes, right? Yeah. But yeah, Trader was the guy who somehow made a deal that made that possible. And then, of course, he founded a company called Hong Kong Land, which just by chance happened to have the waterfront rights from his good friends, the Sassoon's.

43:32And so he could develop a lot of the sites on this new land that he had created. I mean, insider trading doesn't even cover this stuff. and also to your point when it gets out to the ho-tongue offspring um you know you have situations where they feel like they got an edge someone puts a note on the table they go to use insider trading and it actually financially ruins them so there's there's evidence where that goes the opposite direction um uh you know to detrimentally i you know on the reclamation the Kai the Kai Tech airport obviously used to be reclaimed land you know on the Kowloon side of Hong Kong um I never got to fly in there I feel bad because I've seen the old plane videos of like you know these planes coming in very narrowly over the hill and the wind blowing and it being very dangerous and scary looking that being said when when Kai Tech was built in in 1929, how far out would have that been compared to now the airport's obviously many, many miles away?

44:37Yeah. Yeah, the scale of things, of course, it just changes so much kind of without you noticing. Yeah, I have flown in many, many, many times into the old Kai Tak airport. But I always lived on Hong Kong Island, so Kowloon felt like kind of quite a long way away. Yeah, yeah. It wasn't, of course. You're right in the middle of Kowloon City, and it was quite fantastic. Yeah. And you could get a cab from there to anywhere. But now the airport, Chiklap Kok, is right out on one of the other islands, Lantau Island, and whole new infrastructures that could never have been imagined, even, you know, half a century ago, new highways and bridges and everything.

45:28You can drive to this airport even though it's on an outlying island. It takes about 40 minutes. An express train takes about 25 minutes to get to the airport, but it's in a completely different place, that's true. That was one of those projects that was connected to the handover that it was started by the British before the Chinese were taking over to kind of encourage more confidence in the future of Hong Kong. Went all the way out to now the bridge that goes to Macau, which obviously that was not there either. No, no, that was, well, I was a bit simple-minded. I just thought, really, you can't do that?

46:07And they've done it. It's not actually used as much as I think they had hoped because, of course, the costs and all kinds of things, different calculations. I'm a bit out of date on that. But yeah, this whole process of ever closer integration with the mainland, it's physical through these kinds of things you're mentioning. It's political, obviously, above all else. It's political. It's dressed up as economic, but of course it ends out it's very cultural. Sure. This different stage. The other time that this idea of race or ethnicity or people groups comes into a very focal political view is when World War II, the onset of World War II.

46:57Britain seeks to take British people out. But again, what's the definition of British? Is that British by passport or what we deem now as passport or cultural or whatever that may be? Because you obviously explained that not everybody that considered themselves British was taking out. And then back to the idea of messiness again. Even if you tried to say, great, we're not going to take what we might deem to be British. We'll take other people. You go to other parts of Asia and they didn't want the Asian people either. No. Yeah.

47:37I mean, I could sort of riff forever on the problems of sort of nationalism. Yeah. nationalist identities and nationalist ideas because they really screw up everybody's lives. Yeah. And you see this indeed in 1940 when they say, oh, excuse me, we'll evacuate all the British wives and children to keep them safe. Yeah. Okay. So then you've got women who are possibly part Portuguese or part Indian and maybe part Chinese and their husband of whatever Rachel makes is actually fighting in the British forces. but they're not called British because they're not white, basically. So what's interesting is that in Hong Kong, they could identify as British and probably be seen as British.

48:26They've certainly chosen themselves to fight for the British side. So they are identifying as British to the extent that they're actually choosing to fight for the British side in the war, which is, you know, quite a commitment. I mean, they're choosing to die for being British. But once they're on this ship full of other British wives and children, they're taken first to the Philippines. In the Philippines, the Philippine government doesn't have a problem. The problem arises with their ultimate destination, which was meant to be Australia. Now, at that time, Australia had what they charmingly called the White Australia Policy, and they were only going to take in white people.

49:11so these people of mixed race even though they were british they identified as british they fought for the british whether or not they had british passports wasn't the issue they were british they were not going to be allowed to the final destination so they had a choice they could get off in manila or come back to hong kong well it reminds me of how restrictive the australian policy was during covid i mean it was it was so restrictive relative to other parts of the world And to your point, that is very Australian in some respects. Yeah. Oh, don't set me up. I'm an Australian. I'm from New Zealand.

49:47Good grief. But no, you know, governments, I mean, anywhere, frankly, make the most ridiculous choices at different times. Well, so let me let me pivot it, because obviously there were tensions prior to World War Two in Hong Kong, some that we didn't touch on. but I have my notes here, was the, I think it was the 19, was it the 1914 tram boycott, Hong Kong tram boycott, for example. So there's like these underlying tensions. Some of those could be fed off mainland China, maybe like communist tendencies, et cetera. And then you have the Japanese show up. So you're, you know, let's just say in a simple, generic, vague 30 ,000 foot level, someone would say, well, you know, that'll be so much better because it'll be Asian people ruling a dominant Asian culture.

50:36And what you end up finding out is, no, it's way worse. It's a bad idea for people in Hong Kong. And business and even food becomes scarce in Hong Kong during Japanese rule. Oh, absolutely. And it was quite a, I mean, there are more modern examples of this. media organizations I've worked for have thought, oh, let's post an Asian news correspondent to, you know, a Korean to Indonesia or something. Yeah. Surely that'll work better than having some white chick like me or something, and it didn't. So it really didn't. But, yeah, at that time, the essential struggle within China was, of course, between nationalist Chinese and communist Chinese.

51:28So that was a civil war and that was going on basically for a very long time. You know, 1911, the empire, the dynasties collapsed. It was a Republican revolution in China. Yeah, Sun Yat-san, et cetera. And you basically have a civil war going on all along. You then had the Japanese invading China really from the mid-1930s. And then you have World War II on top of this. So it was a mess. when the Japanese started moving down through Asia, they had this idea indeed, which they called the co-prosperity sphere, that we Asians are going to be so much nicer to you than these British - Overlords, yeah.

52:11Dutch colonial imperialist horrors. Because we're Asian, we're much better. And of course, some people in these various Asian places initially thought, well, yeah, that sounds good because they're sick to death of Western colonialism. I mean, there are lots of things to be sick of and that, that's for sure. And yet it very quickly became very clear that Japanese rule, for example, in occupied Hong Kong was brutal and it was in no way better than British imperial rule and in many ways a lot worse. You know, people didn't kowtow on the street in the right way. they got slapped or shot. There was an incredibly vicious way of getting rid of people.

53:01This was to solve the problem that not enough food was coming in. They were just put on boats and the boats were sent off and nothing. Yeah, I think you even said they would just burn boats that were sent out to sea. Yeah. I mean, forced evacuation into nothingness, basically, is sort of... Anyway. You also talk about, you know, the Japanese military. I mean, the idea of rape was commonplace to women. In other words, the danger of a woman in Hong Kong was heightened during Japanese occupation. Absolutely. I mean, I think we now know pretty well anywhere in the world that rape is a weapon of war and is constantly used everywhere now also as another way to oppress and brutalize a country.

53:46But then that was something I think that was very shocking in Hong Kong, where people had been used to a much higher level of personal security. But it's the same with occupied. I mean, when I read stories about the occupation of the Netherlands during World War II by Germany, you know, our dear next door neighbor, you know, you get all sorts of similar things. But absolutely running out of food and running out of fuel to such an extent that people would do anything to survive. Well, that made it very clear, I think, quite early on in occupied Hong Kong that Japanese rule wasn't going to work.

54:28Sure. Well, so, but the Japanese still needed the business culture to exist, right? Because the businesses that are trading, the businesses that are bringing goods, and even as we find out later, the businesses that were even in cahoots with the Japanese military, right, that was the conduit to get stuff to there, to get food to there, to get anything to there. So there had to be a certain amount of diplomacy that the Japanese military had because the town and the city would not function at all without the business people. Yeah, they tried to co-opt the business elite. And of course, this is a standard pattern for any occupying power.

55:13I mean, in France, you had Vichy and so on. and of course there will always be traders out there who will trade with whoever for any kind of personal gain of course and it's like now when there are sanctions against Russia who's going to try to break those sanctions or who's not who's going to find a different way so at that time of course there were people finding different ways but I think the difference, the important point there was that there was still a hinterland of China, where there was still agriculture, food could still come from there sometimes to a far more limited extent than before.

55:57But normal trade in terms of, you know, the port functioning and ships coming and going and bringing goods and so on, that wasn't really happening. I mean, they didn't actually succeed in co-opting enough of a business elite to keep Hong Kong successful in any way. Sure. I think you talk about the population. It went from something crazy like 1.3, 1.4 million people. 1.6 down to 0.6. Yeah, to 0.6. Yeah, a million people either left, died, you know, whatever. Were taken into internment in other areas, etc. Because there just wasn't food. There just wasn't enough trade, frankly. Sure. So let's touch on this.

56:36Macau has a very, it always has had a special relationship with Hong Kong, but even more so, it almost becomes the escape for Hong Kongers at this time. Oh, look, it's the Casablanca of the East, you know, because Portugal was neutral in World War II, officially speaking. Macau was a Portuguese enclave, so officially Macau was neutral. In actual fact, a lot of people in Macau were more anti-Japanese than not. but uh it was a place and you always find a place like this at any moment of stress and trauma in in any particular like what dubai has become today for like russians for example it's the sort of thing that if it doesn't exist it's got to be created because still stuff has to be traded sure um so there were uh i mean the word collaboration and who is a collaborator is of course, an incredibly messy word and difficult to define, although some people see it as very black and white.

57:41Sure. There was a lot of that in Macau. Of course, people made fortunes. Others just used Macau as a place to go through to get into China where they could live off the land more easily. And a lot of the people who had left Macau 150 years earlier, their families had left and come to Hong Kong, now I could go back to Macau and be Portuguese again, i.e. neutral, and not have to be a party to the war. So yeah, it was a handy place, I've got to say. Yeah. So let's see, the next thing I want to kind of touch on is, you know, this brings up a whole, I think this is a great big picture discussion. So, you know, looking at this, was it strange that Hong Kong was better kept by, what I'll say, biased Britain, is how I'll term that, than an aggressive Asian country like Japan.

58:33And I'm asking that. We've kind of talked about that a little bit. So let's take that to a wider lens. Think of Hong Kong in the aggressive hands of China relative to a biased Britain. I mean, I think about that as a paradigm. And I think today, gosh, if I was a Hong Konger, I'd still rather be in like 1994 than I possibly want to be in 2024, which is bizarre to think that you'd rather be 30 years prior from a freedom and political and also uniqueness of the culture of a city to decide its own fate. Right, right. No, but you're exactly right. I mean, that is exactly the situation, and most people would make the same choice that you've just outlined, which really shocked me.

59:20There was just one quick little anecdote that really made this clear to me. and you know the fact that my surname is England is not always a great thing in my life I had no say in the matter but yeah and you know I used to work for the BBC so and I was the BBC correspondent in Hong Kong in the early 2000s so and there was this moment where Hong Kong people were activating to preserve a piece of the most colonial piece of history in Hong Kong that you can imagine, the first prison, Victoria prison, the first police station. I mean, the first literally concrete symbols of British imperial power.

1:00:06And here you have, you know, 160 years later, after the handover to Chinese rule, you've got Hong Kong people trying to hold on to this symbol of British imperialism. And so I toddle along there with my little microphone and I say, yeah, hi, I'm Miss England from the BBC. Why are you trying to preserve a piece of British imperialism? I mean, really, what's going on here? And they say, oh, because it's part of our collective history. It's part of who we are as Hong Kongers. You know, we're Hong Kongers. We're not mainland Chinese. We have a different history. And I would say, look, please don't just say that because of my name more because I'm for the BBC.

1:00:45You know, don't, don't, don't give me this British line because you think that's what I want to hear. Yeah. I said, no, no, no, we really mean it. Yeah. And I gradually learned that they really meant it. They are very conscious. And, and in fact, after a while, I also, once I stopped doing daily news also, and felt more able to feel, you know, have my own feelings instead of having to pretend to be objective all the time. Yeah, we Hong Kongers know that Hong Kong has a distinct and different history and makes it a different place. And that's point one. Point two is, I think if you understand that the world, I mean, there are always empires.

1:01:23I mean, there are different kinds of empires at different times in different places. I mean, I would call what's currently going on with China as a Chinese empire. They are, the China of today is a lot bigger geographically than it was 500 years ago. They have expanded. They have also been imperialist. If you think about Tibet and Xinjiang, you think about their ideas about Taiwan and Hong Kong, you think even about what they're thinking of the waterways in Southeast Asia, what they call their nine dash line. This is an empire. So you then have a choice. Would you rather be under the British Empire or the Chinese Empire?

1:02:01Or, for example, under the Russian Tsarists or under the Ottomans or the Austro-Hungarians or whatever? And of course, God knows there's enough wrong with British Empire and in different places at different times, much, much worse experiences than Hong Kong ever had under British rule. That's for sure. I don't want to airbrush any of that. But if you had that choice, I mean, for sure, why wouldn't you, I mean, if you could, and I think that's what the millions of people on the streets of Hong Kong in 1989, 2003, 2014, 2019, and what they're saying is, no, excuse me, we kind of preferred it when we were allowed to say what we liked.

1:02:43Sure. The old saying holds true, all politics are local. And I think that especially rings true in Hong Kong. So we kind of touched on this, but here's some questions. And I mentioned this before, I'll throw out some hot takes. You can say yes, you can say no, you can give me your quick two to three lines on this. If I said, I believe the handover in 97 to the Chinese, was maybe the most pivotal event in the history of Hong Kong. Would you agree? Would you disagree? What would be your take on that? Not the most pivotal. Okay. I think the more pivotal, you could say, 1979. Okay. Was when the first Hong Kong Chinese tycoons took over from British.

1:03:32It was two of the biggest British combines. So when Li Ka-shin came up, he got hold of Hutchison, and YK Power took hold of worldwide shipping. That was 1979. So that was Hong Kong Chinese money taking over from British. 1997, you got Chinese political form taking over British political form, but actually nothing much changed for a while. Sure. You then get to more like 2007, I'm into the sevens, where by then people are starting to become aware that culturally things are changing, a whole lot more mainlanders are coming to town. And I really think the most significant moment has been 2019, of course, when we had these huge demonstrations during the summer of 2019.

1:04:22I mean, what people would call the revolution of our times, revolution which failed, which was crushed by the national security law and those things are still being played out. To me, that's the most significant because it's when it really becomes clear, no, there's no room for maneuver here. This is how it is. You have that power. Well, and then COVID obviously crushed the head of the serpent on that subject. In other words, it took that to a finality. Let me ask you this one for kind of like our next hot take. And I think, I'll put some intrigue in this. It'll be a one word answer. Was a British national overseas passport ever British?

1:05:06You can't do that in one world. You just can't. There's two things. How about I ask you this? Was it British prior to the more recent events that the UK has announced with that passport? Well, it was more British than not. But no, because there's a distinction between citizenship and nationality. You can have nationality, but not the right to be a citizen, in other words, to live there. And so that BNOC passport gave you the nationality of British, but it didn't give you citizenship. It didn't give you the right to live in Britain. It is now, for some, a route to citizenship. A bridge, yep. Yeah, but yeah, okay.

1:05:52Sorry, I couldn't do it in one way. It's okay. It's good. Do you think we will ever see a 2014 Occupy that is more reminiscent of Tiananmen Square in Hong Kong or, frankly, culturally, politically, is Hong Kong too Chinese at this point?

1:06:15I think the spirit of resistance both in Hong Kong and amongst Hong Kongers all around the world is so much stronger than people think, and it's really quite moving and inspiring. So do I think there is more resistance to Chinese rule of Hong Kong? Yes. Would I think that the Chinese government is prepared to use the ultimate violence against Hong Kongers? Sure. They haven't needed to yet, but they will if they want. Is Hong Kong too Chinese? Well, its character is changing fundamentally and has changed fundamentally in recent years in that a lot more mainland Chinese are coming and settling and taking over the culture and the language and the power.

1:07:05So some people would say, well, you know, so what's wrong with that? I mean, you know, they're going to be nice people. It's not a big deal. And in some ways, maybe that's okay. Maybe that's true. But the point is, the kind of people I'm talking about in the book, who have come from all over, from all different origins, and who are not necessarily ethnically Chinese at all, they don't have a place in that new China where you, if you're going to get ahead now in China, you have to have mainland contacts. You have to be right in with Beijing. You have to, in effect, be a mainlander. I asked a shipping tycoon recently, would the people I call my people, the people I'm talking about in my book, who are from all over the place, would they have a chance now to start with nothing and get ahead and make a new life?

1:07:58And the answer was, no, you have to be a mainland. Interesting. All right. And you have this, a lot of this we're discussing now on kind of these hot takes. This is obviously in your final writing in the book, because your book really does just incredible job of encompassing up to really the Cold War. And then you kind of you put your thoughts to today later in the book. And the other person I just, I'm a big fan of, I think the world of him as a business person, as a political leader, as a spiritual leader, et cetera. Will there ever be a Jimmy Lai again in the vein of the great business men or business patriarchs in Hong Kong?

1:08:44Will he be the last in effect? Wow. I can't imagine that he'll be the last. What is exceptional about Jimmy is the extent to which his own life story is the life story of so very many Hong Kongers. I agree. You know, who came out of China with nothing, who started, in his case, literally on the factory floor, becomes a millionaire and then finds his values and his ideals in not only democracy, also free market ideas, and is prepared to put his money where his mouth is. Now, that's the exceptional bit, that you get a guy who's super rich, who's a businessman, and is prepared to put all of that at risk, his money, for a cause that he believes in.

1:09:40and the number of people in the business world who have done that, you can count on the fingers of one hand. I agree. That's for sure. Yeah. I mean, there's him, there's maybe one or two others. There's not a lot. Yeah. A lot of people were a bit more under the radar who are very wealthy Hong Kongers and who are still there and who are absolutely still, you could say, fighting the good fight, who are supporting people like Jimmy, who are supporting whoever is still in Hong Kong and needs help for the fight for democracy. There are a lot of people under the radar. What is different about Jimmy, he was a very large figure in the business of Hong Kong in manufacturing and media and much more.

1:10:25And he is such a public symbol and he has been prepared to put himself personally at risk and he has chosen, in effect, to put himself into jail. I mean, he knew it was coming. He could have left. He chose not to. To stay there as a public symbol. Now, I mean, it's a rare personality who can choose to do that. And, yeah, I would like to believe there's more out there. Absolutely. Well, to your point, I mean, he's also a devout man of faith. So it's interesting to watch someone who believes that they're – he just firmly believes faithfully in what he's doing. And to your point, it is – that is so real.

1:11:04I mean, where his life is at risk based on what he feels called to do for others, which is incredible. Yeah, yeah, absolutely.

1:11:19Actually, my father was a church minister, and I argued with him for decades about everything. And I remember saying to him once, look, you know, you can be a political dissident or, you know, a democratic activist or something without having to be a person of God? Why do you need religion for that? Yeah. And his smart answer was he said, well, I think you'll find, you know, you can just count them up if you want, but the ones who actually last will have some kind of faith. And, you know, it doesn't have to be a Christian faith or whatever, but if you're going to tilt your, you know, windmills, if you're going to have that sort of dream, which in some ways, even in this biography I've just been reading about Jimmy, it comes across as kind of simplistic, you know, black and white, yes and no, goodies and baddies, democracy or not democracy.

1:12:16Well, you know, democracy is one of those words like race. You know, it has a lot of different meanings. But if you are going to believe in one big thing and you're going to put yourself on the line for it, it probably helps if you've got some sort of ability to take a leap of faith. Yeah, and have hope. Let's see. There's a lot we didn't talk about. I was thinking about, you mentioned Central School. We didn't talk about St. Andrews and Central School and all the different schools. Some of the girls schools that popped up and then disappeared and all that kind of stuff. We didn't, I'm trying to see here other people.

1:12:50Oh, we did not, I'm going to put this as like cookie crumbs to leave out for our listeners. We did not talk about Vandellur Grayburn who was a perplexing individual and yet an honorable individual in the end, I would say. So I'll put that out for there for our listeners and readers to learn about. You know, we also didn't touch on, you know, some of the, how the Korean War helped, obviously the development of Hong Kong and the American influence in Hong Kong. I was going to ask you, Vadim, where can people follow your writing and what you're working on going forward? what I hope I'm writing on is my next project is well actually one of these tycoons in Hong Kong who was telling me recently that you know when you say Hong Kong's all sort of over because it doesn't have these freedoms anymore like freedom of movement press freedom freedom of association of speech it doesn't have proper rule of law and he was saying you know it's really sad that all We've lost all these things, but, you know, we're still a port city.

1:13:52We're still functioning. The ships and planes are coming and going and so on and so forth. And so we were having this debate about are these kind of sweet freedoms, are they just the icing on the cake or are they the cake of a real functioning port city? And so I thought I would look at other port cities in Asia at different times just because Asia's my zone and I'd love to actually look at poor cities all around the world, but you've got to start somewhere. Well, did they all need these freedoms? Are they the icing on the cake? They're just something nice extra. Or are they essential? And what was really interesting is that a year later I went back to the same tycoon last year and I said, how are you feeling about the icing and the cake now?

1:14:38Because, you know, you told me it was just the icing, these freedoms. And he said, oh, no, no, it's not the icing. It's not the cake. It's the flour in the cake. in other words he had sort of moved on in a year or two and realized no no those freedoms are essential when you want to have a functioning trading port and you've got to have people coming and going you've got to attract the kind of people who are interested in being there to do new things and to make things happen and for that I think you need a fair bit of freedom so I hope that's what I'm writing on. So is that a coming book then?

1:15:15uh yeah well i shouldn't jinx this it's it's with my agent okay and so are you on are you on social media or anywhere else that people can follow you not very much i gotta be honest uh i'm on linkedin okay um i don't do a whole lot of other um frantic stuff i find it just takes too much time um is that very wrong of me uh maybe it's something for your agent to pick up for you I asked him if I had to and he said no no no so we'll see but thanks for asking yeah well I appreciate your time um and and your work in this book uh our tribe should go get a copy of fortune's bizarre uh Vadim your book made me think about the messiness of family and when I say messiness I mean the beautiful messiness of family the legacies that come with incredible business success and the demon that you know may be better than the demon that you don't.

1:16:13If you enjoyed this podcast, go to Apple, Spotify, YouTube, or wherever you listen to a Book With Legs podcast. Give us a review. Tell others about the great authors like Vadim that we get to spend time and study the world with and through. If you have a book you'd like to recommend, you can email podcast at SmeadCap.com. That's podcast at SmeadCap.com. You can also send your suggestion to us on X. Our handle is at SmeadCap. Thank you for joining us for a Book With Legs podcast. We look forward to the next episode. Thank you for listening to A Book With Legs, a podcast brought to you by Smead Capital Management.

1:16:50The material provided in this podcast is for informational use only and should not be construed as investment advice. You can learn more about Smeet Capital Management and its products at SmeetCap.com or by calling your financial advisor.

From the publisher

In this episode, journalist and historian Vaudine England joins Cole Smead to discuss her book, “Fortune's Bazaar: The Making of Hong Kong,” discussing pivotal moments throughout Hong Kong’s complex history, the multicultural origins of its population, business culture, recent political changes, and more.

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