An older generation of Hong Kongers had seen prosperity thanks to hitching their ride to China’s booming economy, but around this time the number of Hong Kong companies operating in China began to drop, as the territory was losing its role as the gateway to the mainland. Baby boomers believed that the way to restore Hong Kong’s centrality was to follow China’s lead, but to a younger generation that never fully benefited from Hong Kong’s postwar miracle, that was not the answer. Youth unemployment rose to an all-time high of 10.4 percent in August 2003. Average wages were flat for a decade after the Handover. Young Hong Kongers saw their future as increasingly grim.