Wealth or Value?

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 Being new is always fashionable and it is perhaps why Hong Kong has done so much to establish the modern and high-tech side of the city. However, many historic sites have vanished or at the risk of crumbling down into dust and ashes. Some say preserving our past should be prioritized while some focus on the money factors and the development. So we have come to this dilemma — should we spend a bulk of money restoring and revitalizing our various past or concentrate on the wealth and development to foster the economic growth? But, how should we weigh the benefits and drawbacks?
     Yes, of course it is undeniably important to preserve our heritage because it retains our cultural value. The old Star Ferry Pier in Central, the old Hong Kong Club — seeing so many historic buildings representing every bit of our culture being pulled down and torn into pieces, can we afford to lose anymore?  Preserving Hong Kong’s past means safeguarding our collective memory which is a significant element for us to find out who we really are. Indeed, if one day, all the old parts of our city were gone and transformed into modern high-rise buildings, we would lose our collective memory ad cultural values forever. Nevertheless, we would also lose our identity and culture. One can never find his identity by referring only to the skyscrapers that stand in every big city.
     For the cultural value, preserving the city’s past also means maintaining its attractions.  Right, Hong Kong is where East meets West and new meets old. The colonial features here distinguish Hong Kong from others. If local historic sites are well preserved, it favours our tourism industry which is the beam of supporting the local economy mainly. If it is the opposite, we will lose our character and attractions. Tourists would like to visit the special places here instead of shopping malls which are present everywhere.
     Preserving Hong Kong’s past also retains social value. It saves the long built local social bonding and community networks from being destroyed. Just imagine, how heart-broken you would be if you were forced to say good-bye to where you grew up and be apart from the old neighbours and friends?  However, it is what is happening to many people as places that carry historic values are disappearing. It is of course, ideal if the elderly can stay in their old and familiar homes and neighbours. Why bother to tear off the social ties that are so close among those living in the old areas?
     It may seem admirable and great to advocate for the preservation of Hong Kong’s past. Yet, there are possible drawbacks. Well, things are never perfect.
     Firstly, as proclaimed by many businessmen and maybe some officials, preserving the past may slow down the pace of Hong Kong’s economic development. The conflicts between heritage preservation and economic development become especially eminent and apparent particularly when we are already running out of space. Hong Kong is an international commercial and financial centre that demand land for commercial uses. If we are overly reluctant to pull down any old parts of ours, where can the offices be operated?  Certainly not inside old and maybe, historic buildings. So yes, preserving the past can possibly hamper Hong Kong’s economic development as it can hinder urban renewal projects or development.
     Hindrance of Hong Kong’s development is not the only drawback. Preserving the city’s past also incurs unimaginably high costs. First, it involves the cost of losing the opportunities to develop which may probably be huge losses. Second, it requires experts who are expensive to hire for the examination and preservation of the heritage.
     Nevertheless, these costs together with the benefits of preserving Hong Kong’s past are difficult to be justified. It is rather difficult to determine whether the old buildings are historically valuable enough to be preserved. In addition, it is also not an easy job to prove that it is worth preserving the old areas. That is, the benefits suggested are all implicit ones that can hardly be proven or justified. Since there are so many constraints, preserving Hong Kong’s past may be time-consuming and causes wastes of resources and time.
     All in all, although it is hard to preserve our city’s past due to many restrictions, it does not mean that we should do nothing. Proper standards regarding the grading of historic buildings or areas should beset to save time and convenience decicion-making. Revitalization projects that emphasize both historic value and economic value should be promoted. After all, we need to strike a balance between wealth and value.