Interview I Hong Kong's Broken Billionaire Factory Shows City Losing Step I Heiwai Tang

Posted on Thursday, June 30, 2022

Hong Kong has barely seen any new homegrown billionaires reach the world’s top 500 in the past 25 years. The reason, in part, is due to the special role real estate has continued to play in Hong Kong’s $368 billion economy. Professor Heiwai Tang, director of the Asia Global Institute, tells Bloomberg that we need to have a change in mindset and think more about economic diversification in this city for future competitiveness and upward mobility.