When the unthinkable becomes normal, stability becomes the new premium โ and Hong Kong is well positioned. The world we thought we understood even two years ago no longer exists. We are living through a period of disruption that, until recently, would have seemed unthinkable.
Russiaโs invasion of Ukraine and the US-Israel war against Iran are reshaping long-held assumptions about energy, security and alliances. Trade is being reordered through tariffs, industrial policy and geopolitics. Technology systems and supply chains are fragmenting. At the same time, major economies are experiencing deep internal divisions that affect their policy direction and global posture.
This is not simply volatility โ it is structural change. Crucially, it is happening everywhere rather than being confined to one area. It is reshaping the environment in which governments, businesses and investors operate.
For decades, the global economy rested on a relatively stable model: open markets, predictable policy environments and a clear hierarchy between โdevelopedโ and โemergingโ economies. That model is now shifting.
The United States is rethinking its role in global leadership and economic openness. Europe faces both external pressure and internal tensions over energy, growth and political identity. Supply chains are no longer optimised for efficiency but increasingly for resilience and security.
More strikingly, practices that were once exceptional are becoming more normalised: the use of financial sanctions at scale; the freezing or redirection of sovereign assets; the weaponisation of currencies and payment systems; the targeting of critical infrastructure; and even direct geopolitical threats to territory and leaders.