Hong Kong must be ready for Chinese firms’ ‘great repatriation’ of wealth

In my travels around the world, I’m often asked if the best days of Hong Kong are behind us. My answer is always an emphatic “no” – and this is not merely a pep talk. When you step back and take a broad macroeconomic view, it becomes clear that, structurally speaking, our greatest opportunities lie just ahead. While many commentators scramble to draw parallels between Japan’s “lost decades” and China’s economic headwinds, they miss a far more apt and profound comparison: the phenomenon known as...