Global Financial Crisis

How bad do you think Hong Kong is and will be affected by the worsening Global Financial Crisis in general?

I'm studying for an MA in documentary photography in London and am interested in meeting people in Hong Kong, who have either gained or lost from the current economic crisis.


If such an opportunity exists, I would also be keen on visiting the stock exchange as well.


I can provide full references from my tutors if required. The study would be undertaken as part of my thesis.


Please feel free to contact me anytime on 98454911 or write me an email at seefortyone@gmail.com. Any advice or contacts would be much appreciated. I'm only here until 16th October, so time is not on my side!


Many thanks in advance,


Anthony

98454911

hmm I think the impact of this fallout has not hit HK fully yet and in this quarter , the effects will start hitting the HK economy like a tsunami. Aleady you see less people out shopping, pubs are losing business...


To put things in perspective, the Hang Seng Index has shed approximately 45% of it's value over the past 12 months. This means that half of your wealth is evaporated if you are not lucky enough to get out earlier. And if you are and are one of those that is holdinf property thinking it's a good buy.


Well here's the fun part. With no bank credits, no wealthy investors from equity markets looking for fresh ideas which is a correlated factor - the property prices starts to tank in a big way.


Increased numbers of bankruptcies and increasing number of delta region factories shutting down by the day means soon, this will translate into massive job losses for regional offices mainly in HK.


Depressing it seems, but being an optimist by nature, I have no real reason to remain so. THe amount of money flowing out of HK by the day is staggering...


Holding cash is the only strategy. Forget about inflation killing the value of your HKD, the world is in for a huge deflationary drive soon...

Hope it doesn't take another decade or so to recover to this years prices... We can just wait 'til the market bottoms then start to buy again. I'm getting tired of this volatile market. It's like a surgeon who operated and is now pumping the patient with drugs to survive but patient still gets a seizure. Hope the Global recovery comes soon starting in the US!

That is because the global economy is shrinking and demand will fall drastically.