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China Economy: Hong Kong is facing a repeat of 1998 Asia financial crisis

As a small open economy, Hong Kong is vulnerable to financial contagion and capital flights. Since 2009, hot money has flown in to be closer to China, just as it did in the 1990s en route to Southeast Asia. People nowadays question the city’s viability as a financial centre, reminiscent of the prevailing sentiment in the aftermath of the 1997 handover

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​ As a small open economy, Hong Kong is vulnerable to financial contagion and capital flights. Since 2009, hot money has flown in to be closer to China, just as it did in the 1990s en route to Southeast Asia. People nowadays question the city’s viability as a financial centre, reminiscent of the prevailing sentiment in the aftermath of the 1997 handover As a small open economy, Hong Kong is vulnerable to financial contagion and capital flights. Since 2009, hot money has flown in to be closer to China, just as it did in the 1990s en route to Southeast Asia. People nowadays question the city’s viability as a financial centre, reminiscent of the prevailing sentiment in the aftermath of the 1997 handover  Moneycontrol Latest News Read More  

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