Hong Kong Sar Meeting the Challenges of Integration With the Mainland

Hong Kong, Special Administrative Region (Hong Kong SAR) enjoyed impressive economic growth, high levels of income, and close-to-full employment for years until the Asian crisis of 1997 brought about the most severe recession in a generation. Following this, the economy rebounded in 1999 and 2000. Before sustained growth could take hold, however, the global slowdown in 2001 brought on another recession. After four quarters of negative or near-zero growth, the economy of Hong Kong SAR began to show signs of a pickup in the second half of 2002, although domestic demand remained weak. The outbreak of Severe Acute Respiratory Syndrome (SARS) disrupted economic activity once again in the second quarter of 2003. With the rapid containment of SARS, however, there are good prospects of a rebound in activity, supported by strengthening domestic demand and rising exports.Prasad, Eswar is the author of 'Hong Kong Sar Meeting the Challenges of Integration With the Mainland', published 2004 under ISBN 9781589062948 and ISBN 1589062949.