Foreign passport, who needs one?

Next year's IMF/World Bank meeting will be held in Hong Kong, by then three months into Chinese communist rule. What will delegates find: a thriving boom town or a ghost of its former self? Confused local opinion suggests things could go either way. To get a view from the top, Steven Irvine sounded out more than 30 of Hong Kong's tycoons, politicians and bankers, and drew some far-reaching conclusions

By July 1 next year Hong Kongers who have the means will have bought insurance policies called foreign passports. A government source reckons close to a million already have them and could leave tomorrow. Over the coming months there will be no shortage. The prime minister of Tonga in the South Pacific wants to sell 7,000 passports at around US$20,000 apiece before the transfer of sovereignty. He is even sending over his police force to organize the sales.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access