The first time I come to Hong Kong I check myself into the Mandarin and go out to meet this promising young shipowner called CH Tung, I sell him on a new way of financing his fleet, and this is the original Junk Bond.
Now I am kinda startled when he mails me a personalized invitation to the IMF, but it seems how when the Brits decide to privatize Hong Kong he fronts the red chip LBO that is set up to take it over, and becomes the chief executive, just in time for this year’s meeting, so now is his chance to show the world that it is business as usual out here, only more so.
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