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Now that 1997 is signed, sealed and delivered, many Hong Kong people have heaved a sigh of relief.

 In some ways Hong Kong can be compared with post-apartheid South Africa, where the ruling African National Congress (ANC) showed remarkable sensitivity to whites.

 Apart from abolishing the Legislative Council thereby disenfranchising the Hong Kong people and changing certain laws relating to civil liberties, the Government of the SAR led by Tung Chee-hwa has refrained from making other drastic changes.

 Like in South Africa, there has been no toppling of statues of former rulers. Roads and buildings still bear their names. But that is where the similarities end.

 In 1994 South Africans emerged from utter oppression and degradation to vote into power Nelson Mandela and the ANC. On July 1 last year the Hong Kong people were delivered to Chinese communist rule.

 Pretoria has chosen to act with restraint in order to foster social harmony and economic prosperity. Political leaders who formulated such policies have the mandate of the people.

 In the SAR the people are run by a government imposed by Beijing, just like in the past when they were run by a colonial regime installed by London.

 Since the SAR is run by people handpicked by the mainland, there is no need for Beijing officials to publicly interfere.

 While the SAR may not be plagued by the many intransigent problems facing South Africa, the local people are bracing themselves for a tough year ahead as the financial turmoil in Asia deepens.

 The problem has been compounded by the Tung administration's inept handling of the bird flu virus, which not only damaged the people's confidence but inflicted a further blow to the sagging tourism industry.

 In spite of repeated assurances that the economic fundamentals of the SAR are sound, there is a general consensus that much of Hong Kong's economic woe is due to the Government's misguided policy of auctioning land to the highest bidders.

 The difficulty was exacerbated by the tardiness in the past few years to make land available. This has resulted in sky-rocketing real estate prices, and has jacked up prices of goods and services. Hong Kong is now in danger of pricing itself out of the market.

 The recent decline in property prices triggered by the high interest rates put up to defend the Hong Kong dollar's peg to the US dollar is a movement in the right direction and long overdue. But it has not yet made housing affordable to the general public.

 Since Mr Tung's main backers come from the real-estate sector, many people do not believe he will implement policies which are detrimental to the interests of property tycoons.

As the Asian financial meltdown continues, Hong Kong people are prepared for a period of severe belt tightening.

 Some commentators have mistakenly said the local people are more concerned about economics than politics. The fact is the two are inextricably linked.

 The SAR authorities try to separate them by giving the impression that political developments are non-negotiable and people should only talk about economic and livelihood issues.

 As the economic and social atmosphere deteriorates, Hong Kong people who were prepared to trade off their political rights for economic benefits will find themselves short-changed.

 Not only will they be confronted with the demise of the myth about the Asian miracle and Asian values, like the South Africans, they must learn to be more pro-active in asserting their rights.



A year to assert political rights