Asia News Network, 31 Mar 2009, Hong Liang
A favorite story among Hong Kong financial reporters in the 80s and 90s was the competition with Singapore as the region's premier financial center.
That was hyped up by every newspaper in town as an unfolding drama in which the lead players were engaged in a life and death struggle for survival. Alarmists were having a field day dispensing prognoses of doom whenever some obscure research firm published results of dubious surveys showing a tip of the scale in favor of Singapore.
Not anymore. Since the opening of the mainland in the late 70s, the focus of Hong Kong has shifted north. Singapore no longer poses any threat because Hong Kong is having the mainland market all to itself.
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