'Beijing put' holds the key to Asian growth

摘要

I shared A drink with an Asia DCM veteran last week in Singapore and he was his usual convivial self, generally upbeat about the prospects for dealflow from the region this year - albeit with some nerve-jangling volatility. The conversation started off with mutual gripes about Singapore's move to raise duty on alcohol and cigarettes. The direct experience of that sin tax hike, introduced with almost indecent haste by the bars of Club Street and its 7-Eleven, might be like swatting off an annoying mosquito - in his case, particularly, given his undoubtedly deep pockets - but it adds to the perception that the city-state now seems conspicuously the most expensive metropolis in the world.