Nov 27, 2025
Stephen S. Roach
Even though Hong Kong’s financial sector has rebounded, with a high-flying Hang Seng Index and a return to the top spot in the global IPO rankings, the city is still a diminished version of itself. China’s stifling influence on Hong Kong’s governance has eroded its position as an international entrepôt.
HONG KONG – The sign at Hong Kong International Airport still says, “Welcome to Asia’s World City.” Normally worth nothing more than a sideways glance, this time the sign gave me pause for thought as I disembarked from the plane on a recent visit.
