Shuli Ren, Columnist

Hong Kong Needs More Welders, Not Bankers

The city is in the grips of a white-collar recession and a blue-collar boom.

June 14, 2023 at 8:00 PM UTC

Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. A former investment banker, she was a markets reporter for Barron’s. She is a CFA charterholder.

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Photographer: Isaac Lawrence/AFP/Getty Images

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For people living in Hong Kong, a banking job was the path to prosperity. This is no longer the case.

As the financial hub emerges from the Covid-19 pandemic, the city finds that it’s facing a similar labor market divergence as the US: A white-collar recession and a blue-collar boom.