The Global Financial Epicentre is Shifting from the Western World to Asia

With the rise of China,Financial Pundits have predicted that the Financial Centre will shift from New York and London to Hong Kong,Shanghai and Mumbai.The Lehman Crisis in 2008 may have finally brought this change with the Developed Nations in the West mired in a slow  depression like growth.Hong Kong which was once a British Colony has a much more liberal society and culture compared to the rest of China.Despite being an integral part of China,Hong Kong has a separate government and a currency.China has wisely let Hong Kong keep a large part of its freedom to let it prosper.Financial Centres can’t function without a strong legal framework which is incompatible with the closed Chinese Communist rule.Also attracting high end financial talent would be difficult in a closed censored society.So Hong Kong has reaped the advantages of being within and outside of China.With lots Chinese companies choosing to list in Hong Kong,it has benefited hugely as a financial centre.

Global Talent Migrating in Large Numbers to Asia;Companies prefer to IPO in HK these days

The Global Financial Crisis has shattered the equity myth in the Developed Markets.With S&P underperforming even cash in the last 10 years,raising money has become quite difficult in US equity markets.Europe and UK remain in equally difficult conditions suffering to some extent from the debt induced overhang.Hong Kong and the rest of Asia in comparison have  escaped relatively unscathed and countries in the region have resumed their strong growth trajectory.Its not a wonder then that global talent is looking at Asia for newer growth opportunities.Non-Resident Indians are migrating back to their homeland in record numbers to take advantage of the booming economy.Its the same in case of other Asian centres like Singapore,Hong Kong and Shanghai.Asian companies are now raising money from capital markets in HK rather than NY.Recently a Chinese Solar Company Trony has planned to list in HK after getting stalled in its money raising efforts in NY.Russian Company Rusal became the first Russian company to list in HK .Now Mongolian companies are looking at Primary Market in Hong Kong for their capital needs as well.This shift is part of the larger 21st Century Shift in Power from the West to Asia.

Mongolian companies to raise capital in Hong Kong – Eurasia Capital

Demand for natural resources in China and geographical proximity, makes resource-rich Mongolia particularly attractive market for Hong Kong based investors. This has been confirmed by Sukhbaatar Batbold, the Prime Minister of Mongolia, who said: “Hong Kong is a natural choice for us in terms of funding and expertise”. Hong Kong Stock Exchange (HKEx) appeal for investors is becoming more evident during the last few years. In 2009, it was the top stock exchange globally in IPO fund raising. Moreover, it was the fourth largest in capital fund raising and the seventh largest stock exchange by market capitalization.

60,000 NRIs back! Indian firms lure talent away from US – Rediff

Over 60,000 Indians are estimated to have moved back home from the US last year. Lauria adds that this year, for the first time, NRIs returning from the US are expected to outnumber those coming to this country from India.She has received requests from auto companies in India to hold a job fair in Detroit, and from job seekers in the US to organise one in Texas.So high is the interest right now that she says some visitors who came to the Edison job fair had flown in from as far away as Toronto, Chicago and Detroit, or driven from Boston and Connecticut.