When it comes to bad prognostication, no one can beat Fortune, which came up with the mother of all “Hong Kong is doomed” narratives. In June 1995, the magazine ran its infamous “The Death of Hong Kong” cover story, predicting its demise following the 1997 handover to China. Stephen Roach , veteran China watcher and former chairman of Morgan Stanley Asia, seems determined to follow in its footsteps. As mainland China emerges as a superpower, how can Hong Kong not change with the rest of the nation, and for the better? Well, it didn’t exist as an economic entity, and certainly did not register anywhere in the then global economy.