In better times, I was a money manager. My first job was analyzing Asia-Pacific stocks for one of the world’s largest pension funds, and my first boss was a very smart, savvy Hong Kong Chinese person. I had coffee with her recently and she says she is certain that this country is already experiencing capital flight. Capital flight is one critical step beyond “capital strike,” which is how Larry Kudlow on CNBC characterizes it. If true, this is a big problem for a country with a current account deficit such as ours.
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And the reasons and facts that she gave to justify her views were what?
And this is a ‘big problem’ because why?
And “this country” is America? the UK? Belgium?
Is it a big problem for all countries that carry a current account deficit? Or just ‘ours’?
What would the next ‘critical step’ look like? and why?
What were this persons thoughts on reducing or preventing Capital Flight, and is that something that should be pursued? If so, what steps should or could be taken?
If Capital Flight cannot be stopped, then what else could be done to mitigate the effects?
Come on – as an analyst, you can do better than this. C-