Seeking a reversal of fortune, Hong Kong port bets on China

Article Abstract:

The role of Hong Kong as one of the leading transhipment hubs for Southeast Asia has been enhanced by its designation as a "Special Administrative Region" of mainland China. Originally, Hong Kong's port was founded specifically as a port for China. It has grown to be the busiest container port in the world until 1998 when it lost the title to Singapore. The reversal of fortune was attributed to the Asian economic crisis as well as the diversion of cargo to the Shenzhen ports. The maturing relationship between Hong Kong and China is expected to boost the port's traffic in 1999.

Sales & consumption, Hong Kong, Ports, Marine Cargo Handling, China, Economic aspects, Chinese foreign relations, Hong Kong foreign relations

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Singapore dollar is rattled

Article Abstract:

The Singapore government has decided not to attempt to strengthen the Singapore dollar, apparently as part of an effort to stimulate Singapore's economy. The Monetary Authority of Singapore (MAS) has adopted a "neutral exchange rate policy stance", according to managing director Tharman Shanmugaratnam. The exchange rate is the main tool of monetary policy in Singapore, which is highly concerned with the inflation rate, since Singapore imports everything it needs.

Administration of General Economic Programs, Singapore, Foreign Exchange & Reserves Policy, Foreign exchange, International relations

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