|
|
Article: Hong Kong playing field levels for U.S. companies as 1997 nears.
- Article from:
- Los Angeles Business Journal
- Article date:
- March 11, 1996
- Author:
CopyrightCOPYRIGHT 1996 CBJ, L.P. 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)
|
Three Cokes in Hong Kong cost about $17 in U.S. currency at the Mandarin Oriental, just across from the Star Ferry in central Hong Kong. A quite nice, but not grandiose, apartment in the "mid levels" goes for $9,750 a month in U.S. currency.
These are but two examples of the high-velocity economic life in Hong Kong, accentuated by an officially acknowledged inflation rate of 8.7 percent. Unofficially, the business community believes the true inflation rate to be 12 to 15 percent.
Whether Hong Kong has 8.7- or 12-percent inflation, American businesses have their sights set on Hong Kong. Trade with Hong Kong and the People's Republic of China is a huge economic ...