Hong Kong has a wide range of policies to encourage domestic investment. It uses
large projects (like its huge new airport) to stimulate the economy. Following
the Asian financial crisis it bought $36 billion worth of shares on the Hong
Kong sharemarket to prop up the Hong Kong dollar. It still re
Perhaps a few populist headlines carrying forward the interesting story of
Hong Kong: (source from the BBC2 Newsnight programme)
In 1997-8 HK fought off currency speculators and devaluation through
massive state intervention in the stock exchange, and suffered a mere 5%
contraction. In 1999 it
