TITLE

Country Risk Summary: HONG KONG

PUB. DATE

July 2004

SOURCE

Asia Monitor: China & North East Asia Monitor;Jul2004, Vol. 11 Issue 7, p6

SOURCE TYPE

Country Report

DOC. TYPE

Country Report

ABSTRACT

The economy of Hong Kong, China, grew by 6.8% y-o-y in the first quarter of 2004, its fastest quarterly growth rate in more than three years. The economy was driven by a strong pick-up in consumer spending and exports, but was also supported by increased capital investment by businesses as confidence in the recovery continued to grow. Growth is expected to remain robust for the rest of the year, although a possible slowdown in China, higher oil prices and an increase in the U.S. interest rates are all factors that may hold back growth in the second half of the year. According to a government survey, more than half of Hong Kong's 3,307 teachers who recently sat an exam failed the English writing, listening and oral sessions. Critics have long complained that poor language teachers produce even poorer students.

ACCESSION #

13817570

Tags: HONG Kong (China) -- Economic conditions;  PETROLEUM industry;  ECONOMIC forecasting;  CAPITAL investments;  INTEREST rates;  ECONOMIC development

 

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