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HSBC strains reach breaking point
As a fiscal expression of globalisation, the Hongkong and Shanghai Banking Company has experienced a extended heritage stretching back again to its founding by a Scot in 1865. And as just lately as 7 years back, the core of its product — financing China’s company things to do with the globe — looked smarter than at any time. Remember The Plough at Cadsden? That’s the pub wherever then British isles primary minister David Cameron supped ale with Xi Jinping, a pair of days after the Chinese president had advised British parliamentarians that the British isles and China had shaped an “interdependent neighborhood of entwined interests”. Today though, all those interests…
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Hong Kong says it’s back open for business. Will the world buy it?
Hong Kong CNN — At a glitzy finance summit in Hong Kong this week, the city’s leader triumphantly told a room packed with top Wall Street executives that the Asian hub was back in business. “The worst is behind us,” he declared. Two days later, tens of thousands of rugby fans descended on the city’s largest stadium for the Hong Kong Sevens, its biggest (and usually booziest) annual sporting event, which had been suspended since 2019 due to political unrest, and, later, Covid-19. The two high-profile international events sent a clear message: After almost three years of border closures, mandatory quarantines, and restrictions on businesses and social gatherings, Hong Kong…
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