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Hong Kong’s Return To Chinese Rule Causes Some Concerns

Compiled By Business Staff

Hong Kong, the 10th-largest export market for Washington state products, returns to Chinese rule Tuesday, causing concerns that the communist government may alter the flow of trade, travel and commerce.

In recent years, the colony of 6 million people bought $711 million in Washington forest and food products, electronic equipment and airplanes. It also imported more than $1 billion in goods through Washington ports to be disseminated to the rest of the country.

The port has been a conduit for Washington cherries, which this year were officially approved for shipment through regular Chinese channels. Pacific Northwest wheat, however, is still banned.

Many business people in the city of Hong Kong, which was acquired by Britain in 1841, also have businesses in Vancouver, Singapore, Toronto and Los Angeles. The sprawling colony of 235 islands annually hosts 11 million visitors, many from the United States.

Huge economic and social challenges face the Chinese government as it attempts to merge a wealthy, capitalist colony with a poorer, state-run nation.

Many Chinese earn a fraction of the wages paid by Hong Kong employers, and the price of goods in the colony are far higher than the rest of the country.

British civil rights laws permitted free expression, a free press and unhindered travel. But the Chinese may clamp down on those freedoms. As many as 4,000 troops will be dispatched to Hong Kong in the hours after the takeover, though officials said the show of force is part of a 100-day celebration of the end of colonial rule.

In other events this week:

Today

Regional energy summit scheduled to open in Boise to discuss proposed changes to federal electricity supply regulations.

End of Idaho’s budget year.

U.S. Department of Commerce releases personal income and spending.

National Association of Realtors releases new home sales.

Tuesday

Final day for billionaire Paul Allen to acquire Seattle Seahawks professional football team.

Spokane Area Chamber of Commerce scheduled to take possession of downtown WestOne building.

Idaho and Washington welfare reform programs begin.

Washington Department of Labor & Industries increases workers compensation benefits 5.25 percent to a maximum of $2,859 per month for those injured after June 30, 1996.

Pat Takasugi, director of the Idaho Department of Agriculture, speaks at noon to the University of Idaho’s Parker Research Farm Field Day, 1.5 miles east of Moscow on Highway 8. Call 208-885-6276.

Federal Reserve Open Market Committee meets in Washington, D.C., to review interest rates.

President Clinton releases recommendations of task force on protecting children from Internet content.

Wednesday

Commerce Department releases May factory orders.

Thursday

U.S. Department of Labor releases June unemployment report.

Friday

Independence Day. Financial markets closed.

, DataTimes MEMO: This sidebar appeared with the story: On the shelf Business Week, June 30: Cover story wonders if Madison Avenue has gone too far to target kids with commercial logos, labels and ads. Businesswomen of color Minority women-owned businesses have experienced phenomenal growth in the past decade, according to findings from the National Foundation for Women Business Owners: 1. Their numbers have swollen to 1.067 million at a growth rate three times faster than for all U.S. businesses. 2. They generate $184.2 billion in annual sales. 3. They employ 1.7 million workers. 4. They are heavily concentrated in California and Texas, with Washington among the top 10. 5. More than half are businesses in the service sector.

This sidebar appeared with the story: On the shelf Business Week, June 30: Cover story wonders if Madison Avenue has gone too far to target kids with commercial logos, labels and ads. Businesswomen of color Minority women-owned businesses have experienced phenomenal growth in the past decade, according to findings from the National Foundation for Women Business Owners: 1. Their numbers have swollen to 1.067 million at a growth rate three times faster than for all U.S. businesses. 2. They generate $184.2 billion in annual sales. 3. They employ 1.7 million workers. 4. They are heavily concentrated in California and Texas, with Washington among the top 10. 5. More than half are businesses in the service sector.