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Money Talks from The Economist

Money Talks: Hong Kong, gone wrong?

Money Talks from The Economist

The Economist

Finance & Economics, Business News, Economy, News, Business

4.41.2K Ratings

🗓️ 2 June 2020

⏱️ 28 minutes

🧾️ Download transcript

Summary

China and America are clashing over Hong Kong. Can the multi-trillion-dollar financial centre survive the fall out? Also, property developer Hamid Moghadam explains why the rise of e-commerce has made warehouses hot property. And the lockdown has led to a bicycle boom—will it last? Patrick Lane hosts 


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Transcript

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0:00.0

Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey.

0:11.0

So no excuses not to visit your in-laws this Christmas.

0:16.5

Trains now on Uber. T's and C's apply check the Uber app. China and America have fallen out noisily over Hong Kong. Can the Global Financial Center survive the quarrel?

0:35.0

Hello, you're listening to Money Talks on Economist Radio,

0:40.0

our weekly podcast on The Economy and the world of business.

0:44.0

I'm Patrick Lane and coming up on today's show

0:47.0

The Growing Empire of the Warehouse King.

0:51.0

We're in the business of being invisible most of the time and now we're

0:54.6

becoming visible. And why lockdown has led to a bicycle boom. All over the

1:00.4

Western world from Bogota to Berlin, bike shops have been selling out. First, tensions rising between America and China have left Hong Kong caught between the two rival powers.

1:25.3

On May the 28th, the Chinese government commissioned a new security law for Hong Kong,

1:31.0

one which will give the central government new powers to crush dissent.

1:36.4

In response, the White House proposed removing the preferential treatment that Hong Kong

1:40.8

enjoys compared with mainland China, which helps its commercial and

1:44.7

financial system to be seamlessly connected with that of the West. Can the multi trillion dollar

1:50.0

financial centre survive Americas and China's decoupling.

1:54.0

Patrick Fowles is the Economist's Business Affairs Editor based in London.

1:58.0

Hello, Patrick.

2:00.0

Hi. And Simon Cox is our Emerging markets editor based in Hong Kong.

2:04.0

Hi Simon.

2:05.0

Hi, how you doing?

2:06.0

Simon, can I turn to you first because you're in Hong Kong?

...

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