Hong Kong tycoon bets China will overtake US economy ‘in next decade or so’
Gordon Wu says China could become the world’s biggest economy within a decade or so, helped by technology and lower defence spending.
Intelligence analysis by GPT-5.4 Mini
Hopewell founder Gordon Wu argues that US debt and military spending are weakening America’s position, while China’s lower defence burden and rapid technological progress could push it past the US. He also says Hong Kong should keep courting American private wealth despite tensions between Beijing and Washington.
A very rich builder in Hong Kong thinks China may become the biggest economy in about ten years. He says America is spending too much on the military, while Hong Kong can still act like a busy bridge between China and the US.
Analysis
Wu’s core bet
Gordon Wu Ying-sheung, the 90-year-old founder and chairman of Hopewell Holdings, told the South China Morning Post that China could overtake the US as the world’s largest economy in “a decade or so.” He tied that view to rapid technological progress in China and to what he sees as the burden of US defence spending and public debt.
Wu pointed to Washington’s reported US$39 trillion national debt and a proposed US$1.5 trillion defence budget as a structural weakness. In his view, countries that keep pouring money into war and defence eventually run into financial trouble, while China’s lower defence spending gives it more room to grow.
Hong Kong’s role
Wu also argued that Hong Kong should not simply mirror the geopolitical fight between Beijing and Washington. Instead, he said the city should use its role as a major trading hub to stay connected to the US and attract highly mobile American private wealth.
That position reflects a pragmatic reading of Hong Kong’s function: even amid political tension, the city can still serve as a financial and commercial meeting point. The article frames Wu as a veteran developer with deep roots in China’s infrastructure buildout, which gives his comments extra weight in the Hong Kong business community.
Broader reading
His remarks are not a forecast from an economist or a government official, but from a major private-sector figure who has watched China’s rise over decades. The story suggests a belief that China’s growth model still has room to outperform the US, even if the timeline remains uncertain.
Key points
- Gordon Wu says China could overtake the US as the world’s largest economy in about a decade.
- He argues that heavy US defence spending and large national debt weaken America’s position.
- Wu says China benefits from rapid technological advancement and comparatively lower defence spending.
- He wants Hong Kong to keep building ties with the US and attract mobile American private wealth.
- The remarks come from a major Hong Kong developer with long experience in mainland infrastructure.
If Wu’s view proves right, China’s tech gains and lower defence burden could support faster economic growth. Hong Kong could also strengthen its role as a trading hub that brings in international money, including American private wealth.
The forecast could fail if China’s growth slows or if geopolitical tensions make cross-border business harder. Hong Kong’s effort to stay a bridge between the US and China could also be constrained if tensions keep rising.
