The late economist Hyman Minsky is famous for developing the theory that long periods of steady investment gains can foster complacency and thus encourage excessive risk-taking, leading eventually to a crisis: what was later termed the “Minsky Moment.” In other words, stability breeds instability…

They’ve been around for thousands of years but they’re still tripping up foreign investors in China. Company chops are the carved seals that, when used with a red inkpad to stamp documents, confer legitimacy on corporate actions. Investors accustomed to the norms of Western business may think they…

In the eyes of Hong Kong’s new leader John Lee, the city has a publicity problem. It has a great story to tell, and just needs to do a better job of showcasing its achievements to the world. “We should not belittle ourselves,” Lee told lawmakers a few days after taking office last month, saying he…

The timing of House Speaker Nancy Pelosi’s proposed trip to Taiwan puts President Joe Biden in a bind. Having drawn threats and condemnation from Beijing, the visit risks undermining any fruits of a planned call between Biden and China’s Xi Jinping. For Pelosi to postpone or cancel, though, would…

Billionaires who get on the wrong side of the law aren’t an easy object of sympathy. The trial of Xiao Jianhua merits attention, though, even if its subject may not be deserving. The circumstances and conduct of the case have ramifications that go beyond the fate of this one Chinese-Canadian tycoon…

The Jumbo Floating Restaurant, a landmark attraction built in the style of an imperial palace that adorned the south side of Hong Kong island for more than four decades, capsized this month in the South China Sea, having been towed away after its business was rendered unprofitable by the pandemic…

Hong Kong was never a British colony, schoolchildren in the city will soon be taught. That may come as a surprise to the many parents who remember British governors, the Queen’s head on coins and stamps, and numerous other relics of a 150-year colonial presence. Behind the apparent absurdity is a…

We don’t talk much about helicopter money anymore. After a debate that raged through the early days of the pandemic, it’s all but fallen off the map as a topic. That’s hardly surprising, given how radically economic conditions have changed. Rather than worrying about how to shore up a collapsing…

Analysts trying to evaluate the prospects for a revival of Hong Kong’s economic fortunes under a new chief executive might be better off discarding their political science manuals and consulting Lewis Carroll’s “Through the Looking Glass.” Assessing whether events will follow the course authorities…