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A small article in the Belgian Dutch-language daily De Standaard of 28 January reports on the decision of the Far Eastern Economic Review which is published in Hong Kong to stop all distribution in Singapore after a series of major problems.
Peter Seidlitz writing in the Südkurier, a South German regional paper, says that thousands of Taiwanese, especially of the older generation, are returning to China to visit relatives. These "sentimental journeys" are proving so popular that Hong Kong has had to increase its flights to China. There is a report in the influential Portuguese daily Diario Noticias on the first official visit by Sir David Wilson to Macau and his talks with Governor Carlos Melancia.
Brain Drain
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A report in the German regional Die Rheinpfalz (Ludwigshafen) on a different sort of "brain drain" the arrival in Canada of criminal elements from Hong Kong. "Canada is a good destination for the Chinese mafia where they can start anew with a clean slate and invest in legitimate companies. Who would dare to ask the origin of money that investment-eager emigrants bring into the country?"
The well known Rome daily Corriere della Sera says there is an acute labour shortage, especially among upper income professionals. Secretaries, teachers, doctors, computer programmers, financial experts, lawyers and engineers are all in short supply. But it is not only the "brain drain" which is to blame. The colony cannot cope with the economic boom. While Hong Kong employs Chinese manpower over the border to bridge the labour gap, it is not finding any substitutes for the intelligentsia who are flowing out of the territory.
Economic and Financial
More
The European press is still full of the Ronald Li affair. than 20 German papers, including the smaller regional dailies, report Li's arrest. Interest in the Spanish press in this subject is somewhat limited with only Diario 16, the Madrid paper, reporting on Li's arrest at the end of January. 25 Dutch regionals thought the Li saga was worth mentioning, a few of them publishing a photo of the pale and drawn Li getting into his car after the court hearing. Half a dozen Danish papers report the case using words such as "scandal" and "corruption" in their headlines. The interest of the Belgian papers was more evident immediately after Li's arrest with only the official organ of the stock exchange, the Echo de la Bourse, giving details of Li's possible punishment. Around a dozen Italian papers detailed the arrest while only a few national dailies in Portugal had anything to say on the matter.
Banking and Finance
Many Dutch and German papers cover the introduction of a negative interest rate by Hong Kong banks. They all emphasise that this will be of short duration.
/In