Hong Kong's Economy May Soon Be Eclipsed by the Chinese City Next Door
- Tech hub’s GDP predicted to surpass Hong Kong’s in 2018
- Hong Kong still to benefit from status as financial center
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Hong Kong is on the verge of seeing its economy surpassed in size by the former fishing village Shenzhen, a role reversal long foreshadowed by China’s massive supply of cheap labor and subsidized capital.
Shenzhen -- less than 20 miles north of central Hong Kong -- will see its gross domestic product jump to $350 billion in 2018, ahead of its rival’s projected $345 billion, according to an analysis by Michael Parker, head of Asia Pacific strategy at Sanford C. Bernstein & Co.