| Summary/Abstract |
Scholars have long identified the pivotal importance of business-led governance in the Hong Kong and Macau Special Administrative Regions (SAR) of China. Both are governed under a “one country, two systems” arrangement which in theory provides autonomy. However, this identical formula has resulted in very different trajectories, as the coalition in Hong Kong has failed to serve as an effective intermediary between the state and society amidst a series of governing crises, whereas the one in Macau has been largely successful in maintaining political stability. This article argues that a new class of elites in Macau has emerged and competes for political influence by building communal networks and mobilizing social support. In contrast, a relatively static elite structure in Hong Kong has done little to adapt to changing political circumstances.
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