22-06-2016, 10:02 AM
Hong Kong is having similar fate, albeit, due to slightly different reasons...
Finance stars Hong Kong and Singapore appear to dim
HONG KONG — Asia’s financial-hub twins, Hong Kong and Singapore, are facing increasing brakes on growth even before potential turmoil from a Brexit vote in their ex-colonial master, with China’s slowdown and the continuing shrinkage of the financial industry striking both.
Hong Kong’s economy unexpectedly contracted in the first quarter, weighed down by falling retail sales and the weakest property market in 25 years. Singapore eked out only a modest expansion in the same period, hurt by weak exports and a downturn in financial services.
...
http://www.todayonline.com/business/fina...appear-dim
Finance stars Hong Kong and Singapore appear to dim
HONG KONG — Asia’s financial-hub twins, Hong Kong and Singapore, are facing increasing brakes on growth even before potential turmoil from a Brexit vote in their ex-colonial master, with China’s slowdown and the continuing shrinkage of the financial industry striking both.
Hong Kong’s economy unexpectedly contracted in the first quarter, weighed down by falling retail sales and the weakest property market in 25 years. Singapore eked out only a modest expansion in the same period, hurt by weak exports and a downturn in financial services.
...
http://www.todayonline.com/business/fina...appear-dim
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡