Asia: Very Calculated Risks

In hilly Hong Kong, prestige is often a function of height: the socially elect live on "the Peak." and down below, in the central business district, a company's importance is apt to be judged by how tall its headquarters building is. Latest entrant in Hong Kong's corporate prestige race is the Hang Seng (Eternal Growth) Bank, which last week opened a 22-story building that is even taller than the Peking-controlled Bank of China—which was deliberately built a few feet higher than the British-run Hong Kong & Shanghai Bank. Resplendent with Venetian mosaics and bulletproof glass counters, the new Hang...

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