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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (62091)	3/19/2010 5:43:07 AM
From: Golconda	3 Recommendations Read Replies (1) \| Respond to of 217561

The eclipse of Hong Kong? bloomberg.com “Hong Kong has been Shanghaied,” writes William Pesek. For the first time in three decades, Shanghai’s economy is bigger than Hong Kong’s, which means the “day Hong Kong has long poohpoohed is here. Shanghai is rapidly regaining its position as China’s dominant financial centre.” Yes, Hong Kong is growing at a respectable 2.6% a year. But even if China grows more slowly in the next few years, its need for a middleman economy, such as Hong Kong’s, is dwindling. It already has the country’s biggest port and stockmarket operator. And in a sign of what’s coming, HSBC, Europe’s biggest bank, may soon become the first foreign company to list on Shanghai’s stockmarket. That will start a trend that will see capital that might otherwise gravitate to Hong Kong being siphoned off. “How much longer will bankers, investors and corporate executives feel the need to stop by Hong Kong on the way to China? Going directly to the source of demand makes far more sense.” Building projects in China could even undermine Hong Kong’s all-important property market. Investors betting on the city’s future should watch out.