Former Morgan Stanley Asia chairman Stephen Roach renews a public argument about Hong Kong’s trajectory, saying the city is “over,” according to reports. His remarks trigger renewed debate over whether Hong Kong’s recovery reflects its continuing international role or whether the territory is becoming increasingly reliant on mainland China. Multiple outlets describe how the comments prompt an apparent response from a senior Hong Kong official, who rejects the gloomy framing and counters the claim that Hong Kong’s prospects are finished. The exchange highlights the broader question of Hong Kong’s post-conditions development—whether growth and stability are driven mainly by external, global business ties or by tighter integration with the mainland. While Roach’s position emphasizes decline and the risk of overdependence, the reported rebuttal focuses on maintaining that Hong Kong remains resilient and continues to move forward. The reports do not indicate any change in official policy tied directly to the comments, but they present the statements as part of an ongoing public discussion about the territory’s economic direction and international standing.