Dr. Tung's Recession Remedy For Hong Kong
Hong Kong Chief Executive Tung Chee Hwa has taken a lot of knocks lately. The former shipping magnate has presided over one of the worst recessions in decades. His administration's heavy-handed stock-market intervention raised fears that Hong Kong is abandoning its free-market ways. And to top it all off, archrival Singapore has reacted faster to Asia's crisis by cutting costs and promoting itself as a financial center.
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