Not even much higher interest rates can attract investors seeking a new safe haven.
From media
In a major economic shift, Hong Kong is supplanting the United States and Europe as the preferred "safe haven" for capital flight outbound the Middle East.
Even though government bonds from the US and UK yield nearly three times lending rates in Hong Kong and China, risk-averse investors are shifting funds to HK.
Hong Kong is the financial center for emerging Global Majority system, and Southeast Asia enjoys far stronger economic growth.
China also has tight relationships with Iran, who has granted Chinese ships safe passage through the Strait of Hormuz.
https://www.youtube.com/watch?v=YcFlAZLyOtE
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