It was only until the British knew they had to hand Hong Kong back to China was when they released their stranglehold on Hong Kong more than they ever did. Even they granted their faux democracy when before there was none and it became the financial city it has become. Before, Hong Kong was no different from the reputation of Shenzhen a decade ago. All those rich people that fled the communist to Hong Kong were no different from the Hos of Macau. Rich by corruption. They were no different from the warlords that served whichever colonial master that was in control at the time. They were only rich because the British allowed them to be rich or they fled somewhere else.
Here in the US Americans are free to say their racist beliefs about Asians because they don't fear any repercussions. Over in Hong Kong, the colonialists are the minority. Things can turn south very quickly and that's why they allowed some Chinese to be rich just as along as they served British interests and not work against them.
That I do agree. I just think Hong Kong became a financial city is more to do with the opening up of China in 1978 than the British relaxing the stranglehold.