ABSTRACT
This chapter argues that far-sighted hedging strategies employed by small states and regimes play a crucial role in managing security challenges and achieving global influence. Specifically, we examine the comparative effectiveness of Singapore over Hong Kong in the utilisation of holistic hedging strategies to secure the position of Asia's top financial hub. The 32nd iteration of the Global Financial Centers Index (GFCI 32) released on September 22, 2022, shows that Singapore has supplanted Hong Kong as the region's leading financial hub. Our analysis, therefore, draws upon the concept of hedging to elucidate the significance of hedging initiatives in securing distinctions in the global arena. By delimitation, while Singapore and Hong Kong differ in terms of sovereignty, this paper conceptualises them as political economic entities with similar constraints, challenges and convictions to achieve financial superiority.
