I’ve been in Hong Kong the past few days and the local economy appears to be booming.
The South China Morning Post has reported the following pieces of news since I’ve been here:
In the U.S. and Europe, of course, the economy is limping along at best. The difference is striking.
In a global economy, it seems odd to have one part of the world booming and another part struggling. I wonder if this is sustainable. I suspect not. I predict we will either see the U.S. and Europe start growing again very soon, or see growth in Hong Kong and China slow dramatically. For global stability, I certainly hope it is the former.