Maybe Xi Should Stop Engineering Bear Markets In Hong Kong
When authorities in Beijing blindsided markets by cracking down on Didi just days after the ride-hailing giant pulled off a multi-billion-dollar IPO in the US, they must have known the collateral damage would be substantial.
Subsequent nods to regulatory scrutiny and stricter rules for overseas listings, as well as thinly-veiled threats to punish companies for failings related to data security, only added to the palpable sense of angst.
The bottom line: If there were questions as to whether th
When autocratic rulers drink their own propaganda kool aid they start believing they are the brightest bulb in the pack. And then it all collapses. Happened to Hitler. Xi screwed up with Hong Kong and now he’s making the hole deeper. Good leaders carry the water, they let those who know operate the well.
The real global conflict can be measured by its leaders. Merkel has been the anchor for the democratic side for decades. We desperately need someone(s) to fill her shoes.
Xi knows that the billionaires are rich enough, he couldn’t care if they got 10% less rich
His goal is to improve the quality of the market and snub out amoral unbridled capitalism
Even with moderate success, the direction is virtuous for the society. It is a big buy signal.
Instead of hollowing out, this is an act of building depth and quality
There’s plenty of “depth” in Hong Kong. There’s no lack of market “quality” in the city. A-shares are another story, of course, but all he’s doing by pushing city shares into the abyss is further undermining already fragile international sentiment
Xi had a great opportunity to use Hong Kong to build a bridge to the West. He ended up distancing China. He thought it was going to work against Trump’s bombast. He made a misstep.