Capitalist Roader: Tung Chee-hwa's new deal

Article Abstract:

Tung Chee-hwa is Hong Kong's chief executive-designate and his first major address called for a 'new road' industrial policy. He believes that entrepreneurs will be able to rally Hong Kong's industrial direction with appropriate guidance from the government. There are others who favour the revision of Hong Kong's presumption against governemnt economic intervention. The Consumer Council is seeking the creation of a competition authority, as although manufacturing represents just 9% of GDP, Hong Kong has moved lower value processes offshore, mostly to China, whilst upgrading domestic jobs.

Economic policy, Tung Chee-hwa

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Low-fat diet

Article Abstract:

The end of Hong Kong's speculative bubble last year will mean slowed growth and reduced spending in 1995, but most economists remain optimistic. They predict growth comparable to 1994's 5.4% and say banks remain healthy. Inflation may rise 0.4% to 8.5%, though. Interest rates have risen from 6.5% to 9% thanks to US hikes, while the Hang Seng index fell 40% in 1994 and residential property prices plunged 20-30%. Re-exports rose 15.15% in 1994 as domestic exports fell only 0.42%, but the trade deficit tripled.

Gross domestic product, Economic indicators

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Market knows best; for Hong Kong's future, look to the old truths

Article Abstract:

Hong Kong has drifted away from the classic market economic model that has allowed the colony to prosper for over 50 years. Businesses in Hong Kong are increasingly hampered by government regulations and intervention which often have harmful, if unintended, side effects. One example can be seen with a baby goods retailer who is prevented from selling non-British approved goods in Hong Kong because of a 1991 Toy and Children's Products Safety Ordinance.

Editorial, Laws, regulations and rules, Industry regulations, Government regulation of business, Trade regulation, Free enterprise

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