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But Chinese are predicted to account for half of the world's luxury goods sales by 2025, according to Bain. They will spend 2 billion on luxury items, or 46 percent of global sales, in the next six years alone, Bain said.

But in the long term, Mahbubani said, the socioeconomic causes that have led to the unrest in Hong Kong for the past three months must be dealt with.

But it turns out that the assets considered risky by foreign banks have actually become quality assets for domestic lenders, whereas the areas which they believe bank loans should flow into have become major areas of nonperforming assets. Therefore, foreign banks are not as good as their Chinese counterparts in terms of identifying and controlling financial risk in China.

But as new confirmed cases of the contagion began declining, the real estate market showed signs of recovery in a growing number of cities.

But maybe not all is lost. And here’s an idea that’s perhaps as crazy as some of the cinematic twists that unfolded in the palace of cinema since it originally opened in 1963: