For the past six years many in Macau have acted as if the economy and property prices would continue to rise, casinos would prosper and everyone would get richer. Now that the tide of history has turned and Macau’s party is over, everyone is guessing about the final impact of what is being referred to as the “global financial tsunami”. Assistant Professor of Economics at Macau University, Henry Lei Chun-kwok, says the global crisis will impact almost every sector [...]
As one US-based financial analyst, Steve Budin, observed last month: “It is a bit scary at the moment, I think it is definitely possible some gaming companies might consider bankruptcy.” Indeed. It seems like the whole world is shaking and quaking and even in our comparative haven, worries are mounting by the day. News reports abound about the dramatic nosedive in Las Vegas [...]
