Asian recovery will not be easy and U.S. exporters will face difficult times. But Asia does not have to look very far for a model to sustain their economic recovery. Hong Kong has weathered the crisis because of its market openness and transparency. Faced with one of the greatest economic challenges in its history, Hong Kong is responding to the fallout of the crisis with amazing agility. There has of course been some economic pain, but over all, Hong Kong's economic situation remains strong and the outlook good.
Commercial opportunities abound.
The Hong Kong government is privatizing its telecommunications sector. All are signs of Hong Kong's continuing vitality. Hong Kong's success has always been in embracing market openness, governance without corruption, and, most importantly, the rule of law. These basic values, for which Hong Kong was known throughout Asia before the hand-over, are precisely the same qualities that have enabled it to keep afloat in recent months. Hong Kong's unwavering faith in open markets has been reaffirmed.