Lorraine HuffUnit 4 Discussion BoardDecember 6, 2009Financial and economic industry experts agree unanimously that Asia's booming economies, strong banking confidentiality laws and pro-business incentives are driving capital flows eastward. Hong Kong and Singapore are cities with limited resources however, their economies have substantially grown in the past few decades.According to Asia Times Online writer, Mark Lazell, there are two dominating factors in this economic growth; emerging markets and Swiss rollover. Aidan Healy, managing director of Singapore-based Healy Consultants, says “the business cultures and legal frameworks are hugely different in emerging markets. And in some cases company formation is still a cumbersome procedure which requires expert knowledge." Hong Kong is a natural gateway into China, while Singapore is busy promoting itself as the regional hub of choice.Not long ago, Switzerland was the world's quintessential private banking center.
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