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"Hong Kong Risks Losing Its Role As A Financial Capital," Deutsche Bank Chief Economist Warns
"Hong Kong clearly has its work cut out holding on to its role as the entry way to [investing in] mainland China," warns Deutsche Bank's Chief Economist Taimur Baig as he reflects on the civil disobedience this weekend. Even before this weekend's riots, Baig believes "Hong Kong will have to shape up," and while his base case suggests the unrest will not have a major detrimental effect on the economy per se, he fears it will add to investor angst - and along with macro uncertainty - leaves Hong Kong more precariously positioned than Singapore as Asia's major financial capital.
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aaand then shanghai takes over and hong kong goes back to being a fishing village.
Isn't Douche bank the most over leveraged bank on the planet?
So 100k protestors is going to ruin your standing in the financial sector, but 100 gabzillion in derivatives should not.
Got it.
pods
We now have confirmation from the banksters that China is being targeted for regime change via another phony color revolution. Unfortunately for the protestors, Xi will give the pigs a message that the monkeys will never forget.
HK will just be a tourist shopping site for the rich Chinese.....its such a great place to live...if youre loaded. The young people in HK should start doing something before they have to do guided tours or scoop ice cream for the rich Chinese tourists who go visit there.
Real tough luck for the people who stayed behind in HK...knowing darn well that China most likely wont and cant keep their promise of autonomy....and with immigration abroad just getting harder and harder for people nowadays...I am sure there will be mail order brides from HK now for the desperate females who want OUT of there.
what's crazy is that i'm reading your post and just to the right is an ad for 'Chinese-Lady.com' ...
LOL...it will soon be Hong-Konglady.com....especially if you love flat chested Asians with an attitude...HK is well know for those.
what's crazy is that i'm reading your post and just to the right is an ad for 'Chinese-Lady.com' ...
HK is protesting for freedom from the totalitarians on the mainland and DB is worried about order execution.
Same here in the US...vote for $$ not principle. This is why freedom is doomed.
Bingo! Nail meet hammer. This is about as stupid an article I've read here. Milestones
Bingo - maybe this China's goal, shift it to Shanghai. But it will go to Singapore instead.
Also: Wet wipes banned at halal KFC http://tinyurl.com/k693n9k
That's what happens when the government decides to enter into something that really works well: it trashes it. At least we'll libertarians have Singapore (and New Zealand, maybe?) yet.
The ACT party in NZ got less than 1% of the vote. I think we can safely say Kiwis are as Statist as everyone else in the 'free' world.
Ha Ha Ha !
Shanghai take over .Ha ha ha .
You mean like Shanghai Husi Food Co. ? Like ruining the expensively cultivated reputation of the US company OSI Group of Aurora ?
if you thought that was bad, you should probably stay clear of the industry in the us... orders from the top afterall. there are reasons most of the world bans meat from the us.
That was the Plan from the beginning, wasn't it?
There's less of a need to "go through the middle man" who also backs up foreign connected fifth column movements.
Speaking of demonstations filmed by drones, check out what John Oliver had to say about them;
http://gizmodo.com/john-oliver-wants-you-to-know-drones-are-terrifying-1...
Nice video! Thanks.
Banker threats.
The Wall Street bots don't care. The stock market is hardly down.
Conform or we won't piss on you.
You can not beat them at their own game, general boycott/occupy yourself and cut off their funding.
Money talks, bullshit walks.
1. If money is power, why do we spend it so easily on fleeting "goods"?
2. Disengage the thieves' economy on all non-essential functions. (Make food at home and pay rent, but no more going out, netflix, new car, etc (middle-class lifestyle))
3. Deploy your capital today on solutions for tomorrow that require no dollar inputs. (good time to plant fruit trees right now, in a few years you got dollar-free fruit (companion planting instead of chems))
4. Spend you new free-time with loved ones pursuing goals to improve your quality of life.
Does anyone really give a shit what DoucheBank thinks?
Isn't it the most broken bank in Germany?
warns Douche Bag's Chief Economist Taimur Baig
All I can say is phooey - Hong Kong Phooey
http://www.youtube.com/watch?v=Va_Rmpd3PZI
What, ANOTHER "The Place To Be" that Simon Black recommended*, that's now falling under The Bus?
* Baltic States, Ukraine, Georgia, Lat. Amer., Africa, Australia, Thailand, Hong Kong...
Simon, are you sure that the US Gov is not simply using you as a Leading Indicator of places to target libertarians? If so, then please recommend that the DC, NY and LA, London and Tel Aviv are "The Places To Be". [Said with incredulity and a tad of sarcasm]
Kowtow or we leave!
Hongkong here, London there, I DON'T GIVE A SHIT !!!
UK is fully responsible for hk's finance crisis in 1998.
Right before 1997, hk goverment under UK ruling adopted super loose monetary policy and spent all tax revenues for mega public infrastructure projects. HSBC, Swire Pacific and other UK interests earned big time from that crisis.
The tree of liberty has to be refreshed once in a while with the blood of tyrants
It's like when an article talks about Putin. People in this blog seems sometimes to forget we, here, defend freedom above all.
Calling "pigs" the people who want to defend their own liberty, makes me think if this guy really defends freedom or he is just anti-US (and, as a result, pro-everything-anti-US).
Good point Mike!
This douchebag says that HK needs to get its act together or risk losing its private banking anf financial center status? FFS, if they don't protest, they won't have anything at all in a few years. They can already kiss the financial stuff good-bye.
All the rich Chinese are buying up Manhattan and Vancouver and leaving as fast as they can. They are not stopping in Hong Kong except to change planes maybe.
I think the only reason of being of HK is that it was the only truly free place in China. If the Communist Party decides to finish their special status, what'll happen to Hong Kong??
Probably it will stop being the city with the biggest amount of Multi-millionaires.
Indeed! What finance capital most craves is a city or state with iron clad security and enforced social peace. London and New York are ideal centers for finance capital being backed by powerful central governmenets. Hong Kong was once backed by the UK, but now it is China who oversees the city state in it's unique position as a member of China. I suspect, in fact I am sure, that the unrest has good reasons for springing up, as these people are used to a western type of freedom after a century as part of the UK, but I also am sure that the USA has deep roots, or should I say, the UK MI6 acting with USA money backing. MI6 has a century of deep experience of Hong Kong, and you can bet the west is interested in spreading unrest to China just as it has blown the east Ukraine up into a full scale civil war, and proxy East West conflict. The USA and UK would love nothing better than to begin to chip away at social harmony inside the Chinese State, Hong Kong is ideal place to start!
"What finance capital most craves is a city or state with iron clad security and enforced social peace." "The USA and UK would love nothing better than to begin to chip away at social harmony inside the Chinese State, Hong Kong is ideal place to start!"
There is "social harmony" inside the Chinese State only because of iron clad security and brutally enforced social peace. The ChiComs don't have racially divided cities like Ferguson and they would never allow their country to be flooded with millions of illegals from third world countries like the USA and UK have. The USA and the UK have been destroyed from within and will never be able to "chip away" at the ChiCom state.
The reason for London and New York being centres of capital is because of a relative liberty once, which created wealth through investment, which unfortunately created an empire, which burned away and destroyed most of the capital. Downhill from there. The future of capital will not be centres of power, but centres of liberty. Power is what plunders capital.
but is it enough to get FXI to convicingly break 38
This police action is a direct slap in the face to Xi Jingping who was working hard to increase ties with Taiwan. That ain't gonna happen in my lifetime after this HK police stuff. This has to scare the crap out of Taiwanese and Singaporeans. My guess is the police acted on orders from the far right to embarrass Jingping and try to scare people back into the Communist Party. That probably ain't going to happen either.
Mainlanders flood with their money into HK to get away from the Communist Party, not to embrace it.
Finance capital prefers a state with natural security
and a population inclined to social peace.
Canada(?) Anyone?
Might add Australia and NZ in there as well...
Helps when you don't have to rely on politicos so much!
REPEAL FATCA
Starting to wonder if the US isn't behind this...
Can't have FRAUD in a democratic society. Go HK.
Arrest Jamie Dimon if he ever shows up on your shores.
So now I know why St. Louis isn't a financial hub; it's because of Ferguson right?
www.traderzoo.mobi
Douche Bank, go to Communist China, problem solved.
It is not like they were talking the same book about Wall Street when Occupy Wall Street was protesting.
Speaking of them you'd think they would be roaring back to life and clogging up the streets by Goldman Sachs and the Federal Reserve Bank of NY protesting over this latest regulator fiasco so all them Congress folks running for re-election calling for hearings into the American Life tapes can get their photo ops for midterms.
WW3 stated simultaneously on both the Russian and Chinese front.
Says the guy holding $75 TRILLION in derrivatives exposure. Pot, meet kettle. Kettle, pot...
Exactly. Frankfurt is Deutsche Bank town, everyone and everything is owned by them.
This culturally ignorant court economist has it exactly backwards. If Hong Kong does not protest and win, China's capital formation mechanism goes down the drain. China needs Hong Kong more than Hong Kong needs China. And Hong Kong needs a CP-dominated China like a hole in the head. Crawl back into your derivatives bunker, Baig.