If that 'solution' is complete and durable isolation from the rest of the World with zero strategy for ever reopening, harsh restrictive measures on citizens, destruction of local businesses, annihilation of HK's status as an international business and finance hub (its very raison-d'etre), then I suggest that you look for different solutions... the rest of the World has.
Many EU countries decided to lock down during Christmas due to Omicron and other countries e.g NZ also impose strict quarantine restrictions. I agree it is harsh, but given how prevalent omicron is, I can't see another way. Many of my friends abroad stayed at home bc of isolation or fear of omicron during Christmas and people in HK can enjoy their Christmas without any fear or need for isolation. Business is at usual and things are normal, unless you are dealing with export and import or you are doing business travel. I would say the HK's approach do not deserve as much condemnation as in the forum.
Lockdowns in Europe and the US aim to slow the spread so that the healthcare system can cope. HK's situation is very different as they are still aiming for a zero-covid goal.
Whereas one could argue that it may have been wise during the first waves, before vaccination was available and to an extent while Delta was still the prominent strain, it is hard to see what the end game is... Covid will not go away, therefore a zero-tolerance policy necessarily has no end.
Business is at usual and things are normal, unless you are dealing with export and import or you are doing business travel.
You seem to greatly underestimate the importance to Hong Kong of 'import/export' and businesses which depend on the openness of HK. It very much became the city it is today because of its status as a hub between the World and China. This status is very dependent on the flow of people (which is now almost entirely dead) and the flow of goods (which these latest restrictions on crew dealt a further blow to).
Things are 'normal' only in the sense that shops and restaurants are open and people can get around with few restrictions. In the background, many large companies are eyeing moving out of HK as its long-praised ease of doing business now seems all but history.
Once you have removed this status from HK, there isn't much left...
An overpriced real-estate market which has brought it much wealth, but which now seems to be in peril as the mainland real-estate sector takes a tumble?
A shopping destination for mainlanders which will depend on a travel bubble that will inevitably burst come the first local case? (which is happening now, btw)
A financial exchange place which gives access to a now lackluster market that seems doomed to suffer from endless political manipulation?
HK in isolation to the Word is nothing. It just becomes a fancy suburb of Shenzhen...
I'd rather undergo a lockdown in Europe that I know will end in a few weeks than living in the semblance of normality in a city-prison from where there is no escape in sight.
And if you think that by isolating now, HK is saving itself from the hardship other nations go through, then I have more bad news:
The zero-covid either goes on forever, meaning that this 'normalness' in which people are stuck in a small city and constantly run the risk of seeing themselves an their families being thrown in a prison camp for being at the wrong place at the wrong time also goes on forever.
And if the goal is to reopen eventually, then the virus will still be unleashed on a population that, unlike the rest of the World, has built no immunity whatsoever to it, apart from the vaccines that too few people will have taken too long ago. Not to mention that local immunity against other regularly circulating viruses like the flu will also have been diminished.
If you want an example of what to do for a small city-nation, look no further than Singapore, which successfully avoided the brunt of the first waves, then lead a rapid and successful vaccination campaign and is now slowly reopening to reap the benefits of its policy as it will welcome many of the businesses that are fleeing HK.
To get back to the topic, I can't see CX surviving this, unfortunately. I also can't help but thinking that this is by design...