https://www.scmp.com/rss/322769/feed Jesse Friedlander, CFA, is co-founder and chief investment officer of Des Voeux Partners, a multifamily office that manages intergenerational wealth. His areas of interest include macroeconomics, geopolitics, language and culture. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Imagine a frightening scenario where Hong Kong suffers from massive capital outflows. The stock market plummets, property prices tumble and confidence evaporates. To protect themselves, residents instinctively convert their Hong Kong dollar savings into safer currencies such as US dollars and euros. In an effort to stem the outflow of money and maintain the US dollar peg, the Hong Kong Monetary Authority is forced to propel borrowing rates to astronomic levels. This policy response has the... https://www.scmp.com/comment/opinion/article/3016015/how-extradition-bill-crisis-threatens-hong-kongs-currency-peg-us?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3016015/how-extradition-bill-crisis-threatens-hong-kongs-currency-peg-us?utm_source=rss_feed Thu, 27 Jun 2019 03:05:13 +0000 Huawei’s recent trials and tribulations in the West and the retaliatory actions of China against Canada have shocked many people. It is natural to assume that the detentions and restrictions on Huawei’s use in core infrastructure are due to the rupture in US-China trade relations. However, these actions can best be understood through the prism of two clashing meta-trends: hi-tech’s strategic importance across the realms of defence, commerce and social organisation under the leadership of the... https://www.scmp.com/comment/insight-opinion/united-states/article/2179520/how-arrest-huaweis-meng-wanzhou-may-mark-start?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/united-states/article/2179520/how-arrest-huaweis-meng-wanzhou-may-mark-start?utm_source=rss_feed Wed, 26 Dec 2018 17:00:15 +0000 In 1634, the Académie Française, the pre-eminent French council for all that relates to the French language, was established by Cardinal Richelieu, chief minister to King Louis XIII. In 1883, the French founded an organisation, which continues today under the name Alliance Française, aimed at promoting the study of the French language and culture around the world. Today, both are symbols of the high value France places on its linguistic and cultural heritage, even in an increasingly globalised... https://www.scmp.com/comment/insight-opinion/article/2176481/how-can-hong-kong-keep-its-cultural-spirit-burning-bright-be?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2176481/how-can-hong-kong-keep-its-cultural-spirit-burning-bright-be?utm_source=rss_feed Wed, 05 Dec 2018 09:00:15 +0000 Some commentators have linked the slowdown in China’s outbound property investment to US-China trade tensions. However, the slowdown of Chinese investment in real estate in the West and the recent disposals of American commercial property by Chinese companies are not due to geopolitics but rather a combination of industry dynamics, economic forces and Chinese domestic concerns. First, it is important to recognise that most prime real estate markets had become overheated. The massive Chinese... https://www.scmp.com/comment/insight-opinion/united-states/article/2158517/chinese-demand-offshore-property-investment?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/united-states/article/2158517/chinese-demand-offshore-property-investment?utm_source=rss_feed Tue, 07 Aug 2018 05:00:45 +0000 Watching US technology leaders try to curry favour at China’s premier internet conference is instructive of the quickly shifting power dynamics among global tech giants. China is the only major market where Silicon Valley’s greatest companies have yet to gain a foothold. Famous for their “take no prisoners” aggressiveness and willingness to break the rules, the leaders of these companies on this occasion, in Wuzhen, Zhejiang, displayed modesty and submission to authority. At the back of... https://www.scmp.com/comment/insight-opinion/article/2123957/china-vs-google-facebook-and-other-us-internet-giants-lesson?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2123957/china-vs-google-facebook-and-other-us-internet-giants-lesson?utm_source=rss_feed Wed, 13 Dec 2017 09:36:41 +0000 The rise of cryptocurrencies is one of the most important trends in global finance this decade. Non-sovereign-backed digital money is rapidly entering the mainstream consciousness, with billions of dollars in capital aimed at building business models based on the core distributive ledger technology that supports cryptocurrencies. Banks and other financial institutions are also investing billions to leverage the blockchain, to generate major cost savings and work efficiency throughout their... https://www.scmp.com/comment/insight-opinion/article/2109361/hong-kong-must-join-china-lead-bitcoin-revolution-or-be-left?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2109361/hong-kong-must-join-china-lead-bitcoin-revolution-or-be-left?utm_source=rss_feed Sun, 03 Sep 2017 05:03:05 +0000 In the run-up to the 20th anniversary of Hong Kong’s return to Chinese sovereignty, heated arguments abound over how to manage the territory’s affairs. Surprisingly, the US might offer some useful lessons for China. Long before the post-colonial status of Hong Kong was debated, the US was successfully governing a number of semi-autonomous territories. The most prominent of these “American SARs” is Puerto Rico, a former Spanish colony in the Caribbean, with roughly half of Hong Kong’s population... https://www.scmp.com/comment/insight-opinion/article/2099348/what-hong-kong-can-learn-puerto-rico-american-sar?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2099348/what-hong-kong-can-learn-puerto-rico-american-sar?utm_source=rss_feed Wed, 21 Jun 2017 08:10:17 +0000 In this more competitive second decade of the 21st century, there is a growing understanding across countries that technology and innovation are vital drivers of economic growth and higher living standards. Many believe Hong Kong risks falling behind because so few companies here foster innovation or are technology-oriented. Hong Kong’s economy remains reliant on its traditional pillar industries of retail, property, financial services and shipping. Most of us spend similar amounts of time in... https://www.scmp.com/comment/insight-opinion/article/2072634/four-ways-hong-kong-become-leader-technology-instead-always?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2072634/four-ways-hong-kong-become-leader-technology-instead-always?utm_source=rss_feed Tue, 21 Feb 2017 10:15:15 +0000 US President-elect Donald Trump has chosen Rex Tillerson, the CEO of Exxon Mobil Corporation, to lead US foreign relations as secretary of state. In the modern era, every secretary of state has been part of the Washington political and/or military establishment. Current incumbent John Kerry is a former senator, as was his predecessor, former first lady Hillary Clinton, while her predecessor, Colin Powell, was a four-star general in the US Army. In selecting a businessman, albeit a highly... https://www.scmp.com/comment/insight-opinion/article/2056499/exxon-mobil-boss-tillerson-top-us-diplomat-trumps-new?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2056499/exxon-mobil-boss-tillerson-top-us-diplomat-trumps-new?utm_source=rss_feed Mon, 26 Dec 2016 02:03:01 +0000 American voters will choose a new president in just over a month. Whether Hillary Clinton or Donald Trump succeeds in the quest for the world’s most powerful office will have consequences for not just Americans but governments and citizens around the world. US voters will make the choice, and their decisions are likely to depend on their perceptions of the candidates’ positions on domestic issues such as jobs, taxes, security and health care. However, any action – and inaction – by the Oval... https://www.scmp.com/comment/insight-opinion/article/2021921/whether-its-president-trump-or-clinton-asia-needs-prepare?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2021921/whether-its-president-trump-or-clinton-asia-needs-prepare?utm_source=rss_feed Fri, 23 Sep 2016 09:25:42 +0000 Many people fear Hong Kong’s status is being undermined by pressure from mainland China, competition from Singapore, and from a protracted downturn in the finance industry. Insufficient housing, excess air and noise pollution, strained education and health-care systems and stark political and social divisions all contribute to increased concern about its prospects. Despite the host of challenges, I believe the city’s important and unique role in Asia will ensure that prospects remain... https://www.scmp.com/comment/insight-opinion/article/1970507/are-hong-kongs-best-days-behind-it-or-can-it-remain-top-city?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1970507/are-hong-kongs-best-days-behind-it-or-can-it-remain-top-city?utm_source=rss_feed Sun, 12 Jun 2016 04:02:41 +0000