When Hong Kong Tops the World…

When Hong Kong Tops the World…

…But falls down telling the story

Hong Kong has emerged top in the World Economic Forum’s index of financial market development, surpassing the United States and United Kingdom from the highest rankings for the first time, making it the first Asian financial center to lead the 60-country index, according to the Forum’s fourth annual Financial Development Report released last week.

So that’s great news for Hong Kong, the most developed financial market in the world. And implicitly, the most competitive? But Hong Kong should know better than to be complacent. No doubt the territory has benefited from the Big Brother in the north but I am, as usual, concerned. Here’s one recent example (Read the entire column here, here and there)

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