Hong Kong is economically on a downhill slope and its current problems do not help the city to stop that, says Jim Rogers, veteran investor, at his weblog. “China’s opening up so we don’t need Hong Kong anymore.”
The only reason Hong Kong became Hong Kong was because of 1949, in Mao Zi time. Now, you don’t need Hong Kong anymore. Shanghai was the largest financial center between New York and London before the before the war, Second World War.China’s opening up so we don’t need Hong Kong anymore. It’s going to continue to decline. When the Renminbi, the Chinese currency, is convertible, yes, I would expect the Hong Kong dollar to disappear.
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