If there is one thing analysts agree on, it is that the world is in crisis; on the coronavirus, the economy and the environment. The Chinese word for crisis, Wéijī, comprises two characters, meaning ‘danger opportunity’. This is very apt for the world today. There is certainly danger from the pandemic and the harmful effect it is having on business conditions. But this does lead to opportunities in a couple of ways.
Firstly, many businesses are not going to be the same again because of the virus. The smart people have already realised that their business needs a re-boot, with a shift from physical to digital, and a much lighter cost base. Traditional office spaces, which come with high long-term fixed costs, are being re-invented as staff demand flexible ways of working, and business activities of marginal importance are either being eliminated or outsourced to trusted partners in cheaper locations. The more nimble businesses will grab a first mover advantage via the re-boot.
Secondly, there are always entrepreneurs with money, and during a crisis they are on the lookout for bargains and growth opportunities. Asia is where many of the growth opportunities will be found, and of particular interest to them is the Greater Bay Area in Southern China. The GBA infrastructure continues to be fast tracked and its GDP, which is now the size of Canada, will grow within a few years to be the size of Germany.
This is why we love Asia and we believe in Hong Kong as an important hub for the future. So, if you are looking for growth or seeking help to re-set your business, please come and talk to us at Trinity Bridge. We understand Asia and can help you on that journey.