A new paper by an East Asia and international business expert in the Olin Business School at Washington University in St. Louis finds that Hong Kong’s status as a leading global financial center is secure for multiple reasons, despite prolonged protesting. China’s government will continue to support it; Hong Kong’s financial networks possess extraordinary scale and sophistication; and no viable alternative center has emerged to challenge Hong Kong as the Asia-Pacific leader. Meyer, a senior lecturer in management, puts forth his arguments in “The Hong Kong protests will not undermine it as a leading global financial centre,” published online in April in Area Development and Policy.
This summer students participating in the McDonnell Academy Global Energy and Environmental Partnership (MAGEEP) International Summer Experience traveled to the Shenzhen-Hong Kong metropolitan area to learn about alternative energy research and practice but also to explore the festivals, museums and food of another culture.
Hong KongIn the days leading up to China’s taking over Hong Kong on July 1, 1997, the media and political pundits were spouting cautionary tales of how China would ruin Hong Kong’s success as Southeast Asia’s financial center. Were the foretellers of doom correct in their outlook? Not at all, says David Meyer, visiting professor of business at Washington University in St. Louis. In fact, ten years later, both Hong Kong and China have reaped the benefits.