Singapore has been a beneficiary of Hong Kong and China’s pandemic mismanagement and policy missteps, enjoying the relocation of businesses and high-worth individuals.
Singapore will face increased competition from Hong Kong's efforts to reclaim some of its lost business and investment activity, but Singapore is well-placed to keep most of its gains.
The reopenings are a positive-sum game for both of Asia’s financial centres, but relying on its rivals’ mistakes is not a sustainable long-term economic strategy.
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