Hong Kong is no longer a Western playground – and it’s not looking back

When it comes to bad prognostication, no one can beat Fortune, which came up with the mother of all “Hong Kong is doomed” narratives. In June 1995, the magazine ran its infamous “The Death of Hong Kong” cover story, predicting its demise following the 1997 handover to China. Stephen Roach, veteran China watcher and former chairman of Morgan Stanley Asia, seems determined to follow in its footsteps. In 2024, Roach caused a stir by proclaiming “Hong Kong is over” in the Financial Times. He was...