Down and out in the fragrant habour
Article Abstract:
Hong Kong has been hit by recession with a contraction in the economy of 2.8% in 1st qtr 1998 compared to 1st qtr 1997. The government estimates a further contraction for 2nd qtr 1998, and unemployment is at the highest level for 15 years. Stock prices have dropped to the lowest level for five years, tourism has been hit, and there have been problems with a new international airport. Prices have dropped, but consumer confidence is also down. Homeowners often have mortgage debt greater than the value of their homes. There is little the government can to, and the survival techniques of older people may become important.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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Gambling with red chips: Hong Kong's handover
Article Abstract:
So called 'red chip' companies, which are those that are registered in Hong Kong but are actually controlled by Chinese interests, are attracting a lot of attention in the Hong Kong stockmarket as the reunification with China nears. It is thought they could receive many government assets.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
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