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1990s or later.
Meanwhile, the demand among ordinary people to
There is no sign that Hong
buy houses and apartments is extremely strong, and new share
issues are heavily oversubscribed.
Kong people are afraid to invest their money in Hong Kong.
It is worth remembering that emigration has been a
fact of life in Hong Kong since the last century. Hence, in
large part, the large Chinese communities that now exist in the
United States, Canada, Australia and Britain. The level of
emigration has been much the same as it is now for more than
twenty years. Those leaving now include some who count 1997
among their reasons. But many others leave for traditional
reasons, principally to join family members already abroad. of
those leaving for "confidence" reasons, quite a few, having
obtained their "insurance policy" have already returned to Hong
Kong to live and work, because they prefer its life style and
the opportunities provided by its dynamic economy. If
confidence, both political and economic, is maintained more
will do so.
There are of course real worries about the future.
1997 will be a significant change, however much its impact can
be minimized by sensible policies and good co-operation amongst
all concerned. Currently it is the political rather than the
economic future that attracts the most attention. Hong Kong
people are watching closely as the Chinese draft the Basic Law,
which will give effect under the Chinese constitution to the
provisions of the Joint Declaration. A number of Hong Kong
people participate in the drafting committee.
There has been