Economist Jeffrey Sachs described Hong Kong and Shenzhen as the modern endpoints of the Silk Road during his recent journey retracing Marco Polo's path. Sachs, a Columbia University professor, emphasized that these cities form the 'world’s greatest innovation cluster' that will drive the global green and digital age. He made his remarks in an email as part of his 43-day, 15,000km journey, which began on June 13, aimed at promoting peace, connectivity, and sustainable development through green technology.
Key Details
Sachs noted that while the ancient Silk Road's eastern terminus was Xian in northwest China, Hong Kong and Shenzhen now fulfill that role. He stated,
If Venice was the western gateway from which Marco Polo set out, Hong Kong and Shenzhen are the eastern gateway of our own time: the great innovators and interconnectors of East and West, North and South.
This perspective highlights the cities' significance in contemporary global trade and innovation.
Background
Sachs's journey, dubbed the Marco Polo Drive of Peace, Culture and Sustainable Development, seeks to send a message about the importance of modern trade routes and technological collaboration. His views align with broader discussions on the role of innovation hubs in shaping future economic landscapes.
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The emphasis on Hong Kong and Shenzhen as innovation centers could enhance investor interest in technology and green energy sectors, particularly in Asia. Companies operating in these regions may see increased capital flows as investors seek exposure to emerging technologies and sustainable practices. Watch for further developments in regional trade agreements and technology partnerships that may arise from this renewed focus on connectivity.