Beyond the current recession, the challenge facing Hong Kong is to avoid going from being the commercial centre it is today to becoming the next Japan
Early March was an important time for Hong Kong, wasn't it? Chinese Premier Zhu Rongji confirmed Tung Chee-hwa for a second five-year term as chief executive of the territory. Then financial secretary Anthony Leung announced his first budget. It's hard to decide which to be less excited about. Tung's reappointment, of course, came after an election campaign ' can we call it such? ' that had all the political edge of Brezhnev's last run in Moscow. By the kindest accounts, the budget Leung advanced for the fiscal year starting 1 April was conservative. Considering that it all but ignored a ...
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