Big Apple vs Pearl of the Orient? How higher taxes in New York may open door for Hong Kong

In Focus | Could New York’s tax-the-rich agenda send its wealthiest residents to Hong Kong?

Analysts say Hong Kong could benefit as New York’s tax debate prompts wealthy families to reassess their options.

Big Apple vs Pearl of the Orient? How higher taxes in New York may open door for Hong Kong

On November 4 last year, Zohran Mamdani won the New York mayoral election on a promise to make the city more affordable, with expanded social programmes funded in part by raising taxes on the city’s wealthiest residents and most profitable corporations. Nearly a year since his upset victory, he…