Hong Kong's future role as a Far East economic powerhouse is under threat, the result of structural ...
Hong Kong's future role as a Far East economic powerhouse is under threat, the result of structural economic weakness and the rapid development of Guandong and Shenzen provinces on the Chinese mainland. Hong Kong's manufacturers have been affected by the region's reunion with China. Production costs are lower and margins higher on the mainland and many businesses have relocated, sending unemployment rocketing. Mike Hanbury-Williams, director of Pacific Basin equities at RSA Investments, says: 'Unemployment is now at 6.8% and this is having a major impact on the economy, particularly on ...
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