The global financial system is in a real bind.

The tech war between nations is well-established – the US and China being the least coy about this battle. There is another (more subtle) war happening: the battle for talent is quietly turning into a more global competition. 

With share prices in Shanghai and Hong Kong up and down all day, it would be premature to say that yesterday's decision by the People's Bank of China to cut interest rates and make it easier for banks to lend has brought calm to stock markets.

Legislators in Hong Kong rejects a controversial Beijing-backed election reform package that sparked mass protests last year.