Kong's infrastructure, strategic location, and cultural ties
throughout the region make it an indispensable hub.
4) Finally, American interests are not simply economic, but
they also embody the desire to foster participatory and
pluralistic forms of social organisation devoted to free markets
and civil rights. On this score, Hong Kong gradually is moving
in the participatory direction. This is a development fully
compatible with our interests and values.
Current Trends and Developments in Hong Kong and Implications for
America.
In the wake of the tragic bloodshed of June 4, 1989 in
Beijing, confidence in Hong Kong reached a nadir, with emigration
jumping from 42,000 in 1989 to 62,000 in 1990. By 1991, the outflow had receded a bit, to 60,000 annually, with the rate
anticipated to remain at about that level in 1992.
This brain
drain is extremely worrisome, although there are indications that some previous emigrants are returning, having acquired rights of residence elsewhere, should such a life preserver prove
necessary.
Nonetheless, in 1991 American visas that remain valid until
the year 2,002 were undersubscribed, an indication that some measure of confidence had returned to the Territory.
In
addition, in 1991 and early 1992, the price of residential
property rose very rapidly in the Territory and the Hong Kong
stock markat rosa sharply.
Hong Kong expects a real growth rate
7