Policies seem to be taking a pro-wealth turn. — Reuters
THE economist Stephen Roach’s pessimistic conclusions about Hong Kong’s future have triggered a heated debate, though most of the angry reactions to the former Morgan Stanley Asia Ltd chair’s Financial Times article have been sparked by its provocative title: “It pains me to say Hong Kong is over.”
Is it? Any evaluation of the Chinese special territory’s prospects must go beyond the Hang Seng Index, a wealth marker typically associated with prosperity in a city purpose-built for commerce.
