Thank you Victoria for your comment. Let me just remind you that this trend doesn’t concern foreign investors, but domestic ones (Hong Kong-based wealthy families, to be exact). In terms of where they are putting their money, it is indeed stability (and predictability) that they are looking for, rather than democracy. Sad maybe, but a fact. Money goes where the laws are strong and stable, rather than where people can express themselves freely.

What interests me here is how a social movement affects the attractiveness of an economy, regardless of whether I agree with this movement or not. This blog is about observing how economic power expresses itself in Asia-Pacific. In this story, the anti-Extradition movement appears to give (un-intentionally) a serious edge to Singapore in the race with Hong Kong for leadership of the Asian wealth management industry. Economic & information warfare is what this blog is about.

Finally, the fact that Singapore is a full-fledged State while HK is only a SAR of the PRC is of great importance. The Singapore government doesn’t have to take its orders from somewhere else, at least not as blatantly as the Hong Kong SAR government. The Singapore PM answers to local interest groups (and we could discuss extensively about the amount of influence it has over these groups…), while the Hong Kong SAR government has to answer ultimately to Beijing, while being supposed to represent local interests. When it comes to ensuring transparency and stability of the legal system, this is hardly an enviable position…