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Article: Asia: Hong Kong - How Hong Kong Made Its Own Luck - Hong Kong's Financial Secretary Henry Tang Tells Karina Robinson The Reasons He Believes Are Behind The Resurgence Of China's Special Administrative Region.(Interview)
- Article from:
- The Banker
- Article date:
- December 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Q: To what do you ascribe Hong Kong's economic recovery? You have upgraded your forecasts to 7.5% GDP growth in 2004.
A: A combination of factors. They say timing is everything and I agree. In the first quarter of 2003, when I was Secretary of Commerce, Industry and Technology, the figures were already showing signs of recovery. Unfortunately, the light at the end of the tunnel was the headlight of an oncoming train. It was a situation where a budding recovery was ruined by one quarter of [the respiratory disease] SARS. [But in addition] the Free Trade Agreement was signed with the People's Republic of China. [People saw that the mainland government] was prepared ...