Problems

Although there is little doubt that our government policies are not uncommonly skewed, we should ask: Is it the only (or, the major) reason that our city is dying?

No, it's certainly not the only reason, and I doubt very much it is the major reason. There are, to say the least, two compelling and equally important explanations:

1. The efficiency of our government is close to a paralyzed snail; it takes ten days for them to go through a weekly report.
2. Our economic structure has changed. In the terms of Adam Smith, our city has little Produce of Land or industry. We earn money by financial services and tourism, and our GDP is sustained by the ever-expanding projects on the infrastructure.

The sobering truth is neither of these problems would disappear with a democratic system. If anything, the situation would become worse, at least in the first few years.

Just like what Danton and Robespierre faced when they took over the National Convention of First Republic.