Jake's View | Tycoon's comments fill an insight-free zone
You won't find anything more than a patriotic gesture in Li Ka-shing's utterances on impact of Shanghai's grand plan that is still waiting for one
Shanghai's new free-trade zone will have a bigger and quicker impact on Hong Kong than most people imagine, Asia's richest man, Li Ka-shing, said yesterday.
But just what sort of impact will this be, Mr Li, and how quickly do you think it will come? Could you let us have your thoughts in more detail, please?
And the answer: "I hate to predict. But it will be faster than most people expect."
No answer at all, in other words. What we have here is a typical Li Ka-shing statement on political affairs. He doesn't make one often, but when he does, it is always directly in line with official pronouncements in Beijing. These thoughts are of great value. Taken along with an Octopus card they can get you a ride on the bus.
I believe he wobbled a little during the Tiananmen Incident in 1989 but certainly has never since done so. It is what we must expect. He is a man of business with interests throughout China, and these interests are best advanced by applause of official thinking. You might almost say he has a fiduciary duty to his shareholders to parrot the Beijing line.
You might say he has a fiduciary duty to his shareholders to parrot the Beijing line