Tag: Roach, Stephen S

In Hong Kong, China’s Grip Can Feel Like ‘Death by a Thousand Cuts’

Media Library

Once one of Asia’s most high-flying cities, Hong Kong is now grappling with a deep pessimism. The stock market is in the tank, home values have tumbled and emigration is fueling a brain drain. Some of the hottest restaurants, spas and shopping malls that local residents are flocking to are across the border, in the mainland Chinese city of Shenzhen. “It pains me to say Hong Kong is over,” Stephen Roach, an economist and a former chairman of Morgan Stanley Asia long known for his optimism about the city, wrote…

China’s Covid Lockdowns Leave Millions Out of Work

Chin@Strategy

After over a month in lockdown, Zeng Jialin could finally return to the Shanghai auto parts factory where he had worked. He was about to be released from a quarantine facility, having recovered from Covid, and was desperate to make up for the many days of wages he had missed. But on Tuesday, the day he was supposed to be released, someone in the crowded isolation facility tested positive again. Mr. Zeng, 48, was ordered to wait 14 more days. “I have three kids, in college, middle school and elementary…