My sentiments exactly. The rule of law and constitutionalised freedoms are the most important aspects. Universal suffrage is overrated for the reasons you’ve stated.
A wonderful host in Hong Kong, this was a great interview.https://twitter.com/hsingh_hk/status/1174554442554724352 …
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Hong Kong won't go the way of the West. They're far too smart. They were founded on minimalist British Common Law and property rights, have remained this way for decades, love markets and have little appetite for the things you're afraid of besides *maybe* public housing.
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The appetite for public housing is driven by land-usage restrictions outlined in The Basic Law and ridiculously high immigration numbers from the mainland. They have a very high in-group preference. Democracy would actually allow markets to start solving these problems overnight.
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That doesn't mean I love democracy, but having lived there, speaking the language and understanding the people, they are based, high IQ, educated, cultured capitalists who strictly ostracise the type of degeneracy you fear. Why not let them ostracise it on a more official level?
End of conversation
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God I love see my countries flag being used as them symbol of freedom it is Hong Kong
citizens are capitalist not communist Hong Kong was apart of British empire for centuries notice they don’t wave the British flag 
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If you don't allow the men in small hats to compromise your culture-shaping institutions, you'll avoid the civilizational destruction of which Molyneux speaks.
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Two wolves and a sheep
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