Euromoney’s favourite tale of entrepreneurial exploitation of local arbitrage opportunities was, until recently, that of the Hong Kong businesswoman who apparently set up shop outside a well-known bar in drinking area Lan Kwai Fong during its 1990s’ heyday. Spotting that the bar was running a promotion whereby bearers of the Standard Chartered HK$10 note could redeem it for drinks at that (deeply discounted) price, she immediately acquired a stack of the bills and – so the possibly apocryphal tale goes – began flogging them to thirsty punters for the bargain price of $12.
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