The shift in the world’s centre of economic gravity from west to east

This is interesting. A very small entry in the economist weekly news briefing this week. It was the last entry in the email. Short. Sweet. But, it speaks volumes. No, it screams volumes.

"HSBC decided that from February its chief executive will be based in Hong Kong. The bank will keep its global headquarters in London. It explained Michael Geoghegan’s move to Hong Kong, where it was founded in 1865, as part of its strategy to ready the group “for the shift in the world’s centre of economic gravity from west to east”."

If London, the world financial centre, were still booming, if there'd been no credit crisis, would HSBC have made this move? The global HQ will remain in London (for now), but we are moving the CEO to HK?!

Interesting that they are doing this now. Something is up.... HSBC.... Robert Zoellick`s comments this week about the US Dollar... China floating yuan bonds... I feel like Churchill watching Hitler back in the 1930s..