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Macau actually experienced a big recession while Hong Kong has grown steadily, overtaking the US in GDP per capita. [1]

Right, but even after the big recession, it’s still significantly higher than Hong Kong, almost double.

Macau's position has been solidly pro-Beijing for over 50 years. I wouldn't understate the political differences here.

Or is it because they can move to Portugal if they want to, thus feel like they have an escape?

Macau passed the national security law.