Posted 2/29/2024, 11:00:00 AM
Hong Kong's future as financial hub falters as China tightens grip
- Hong Kong's days as a global financial hub are numbered as China tightens control and restricts freedoms
- Western companies and expats are leaving due to authoritarian policies and COVID restrictions
- The economy is struggling with ballooning deficits and declining stock market
- China needs Hong Kong as a financial center but is prioritizing political control
- Business confidence and legal system independence are declining, hurting investment and deal-making
