Commentary: Hong Kong: So Far, Tung Is Making All The Right Moves

On July 1, 1997, the day China assumed sovereignty over Hong Kong, the territory's new rulers set the harbor ablaze with a flotilla of 31 illuminated barges, a laser show, and dazzling fireworks. The 800,000 spectators looking on, myself included, couldn't help but be wowed. But I also felt a sense of unease, wondering how well Hong Kong's new masters would fare at the daily, demanding job of governing. It was an easy task for Hong Kong's tycoons to foot the bill for the ceremonies and feasting surrounding the handover. But how will these magnates, who will now set the course for Hong Kong, improve on the British, who helped create a vibrant laissez-faire economy and free society in the shadow of communist China?

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