Hub Risks
Unsurprisingly, Hong Kong’s anti-government movement has faced backlash especially from factions that benefit from mainland links.
Firstly, local youth are being shunned from recent rounds of hiring, reportedly, from asset managers, accountancies and law firms to avoid political and related economic risks. Secondly, pro-Beijing proponents are increasingly backing initiatives outside of Hong Kong with talks of increasing exposure to locations like Singapore or, as policymakers have recently begun promoting, Macau.
«Some of my mainland Chinese clients talk as if they want Hong Kong to burn. They would rather set up business and their funds almost anywhere else,» said one managing director at a French private bank.
«There is strong anti-Hong Kong and pro-Beijing sentiments amongst many mainlanders I deal with nowadays. The view is more nationalistic than economic, in many cases.»
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