I used to aim for 50% US and 50% China / Hong Kong for my overseas equities exposure. However, since the beginning of this year, I have started to pare down my Hong Kong stocks as I lost my confidence in the Hong Kong and China economies. China is still sticking to its Zero Covid policy and it is holding back its economic recovery. Unemployment is high and scary. According to a South China Morning post in mid July. China’s urban unemployment rate was about 5.5 % and the worst was youth unemployment which soared to 19.3 % and is expected to reach 23% by end August. That’s almost one in four. China is going to see a record number of 10.8 million university graduates trying to enter the labour market this year. All of us know that youth unemployment is a major issue and can be a potential spark for social unrest. Disillusionment with the “Chinese dream” combined with lock-down fatigue is worrying....