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Ex-M Stanley Asia Chair Roach: HK Boosted up by US-CN Tensions
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Stephen Roach, the former Asia Chairman of Morgan Stanley, who wrote in the Financial Times last February that "Hong Kong is over", has changed his stance, Bloomberg reported. He lately considered that the tense US-China relations are pouring new vitality into Hong Kong, a development he did not foresee when he wrote the article. Roach expressed shock at the worsening US-China conflict and noted that contrary to his earlier prediction that Hong Kong would be hit hard by the US-China crossfire, it may actually benefit from it, as Hong Kong holds a unique position as the most important window for mainland China to international finance. He described three factors supporting Hong Kong's prospects: the Chinese economy, US-China conflict, and local politics, likening them to the legs of a tripod. One of these support points has changed, as the US-China conflict now offers more opportunities than threats compared to his initial expectations. AASTOCKS Financial News Website: www.aastocks.com |
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