IAG 2016-06 Jun - page 6

is anAsianbusiness icon.
A former clothing importer, hemoved to
HongKong in1975 topursuehisgrowing
business interests in the regionand soon
foundhimself playingakey role in the
development of thecity. Zemanwas
responsible for turning
LanKwai Fong
the thrivingbar and restaurant district it
is today. He is alsoheavily involved in the
gaming, construction, shipping, fashion
andfilm industries and sitson theboard
of anumber of companies including
WynnResorts, Alibaba, theHongKong
Airport Authority, HongKongTourism
Commissionandmanymore. IAGCEO
sat downwith
Dr Zeman
tochat about the futureofMacau.
Cover Story
IAG: Let’s start with the crackdown on corruption that
has impacted theMacaugaming industry soheavily.The
word crackdown implies temporary – something that
starts and thenends–butwill therebeanend?
Allan Zeman:
I think the crackdown, if that’s what you want to
call it, will not end. The crackdown will continue. I think that the
system before in China was such that although it was illegal, it
was the norm. China is still a developing society and I’ve seen
it happen in other countries too. I’ve seen it happen in many
Southeast Asian countries and it still exists inmany of them.
When President Xi Jinping came into power, he realized that
social media was changing perceptions. In the old days, nobody
knew. But once you start to see government leaders going out to
cut a ribbon at some event and wearing a high priced watch, on
their salaries, people start to say, “Hey, where do these guys get
Corruption was becoming rampant to the point where it
was part of society because the GDP of China was growing 13,
14, 15% and there was a lot of different kinds of money in the
economy tomakeup that number. The government realized that
this would destroy the Communist Party – destroy China as a
whole – because more millennials were becoming much more
aware thanks to socialmedia. Therewas a change taking place.
The government was clever enough to realize that they had
to clean up or change the perception. Xi Jinping arrested Bo Xilai
first and then Zhou Yongkang – they are a few great examples of
1,2,3,4,5 7,8,9,10,11,12,13,14,15,16,...48
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