Beware self-serving advice on SAR economics

PUBLISHED : Tuesday, 22 September, 1998, 12:00am
UPDATED : Tuesday, 22 September, 1998, 12:00am

So both Alan Greenspan and George Soros consider the efforts of the SAR Government to salvage the wreckage of the economies of Hong Kong, and hopefully other Asian countries', are wrong.

Most countries in the region put the blame on Mr Soros and others of his ilk, so could it be that his advice is kindly meant? Do Mr Greenspan and Mr Soros mean the SAR move is wrong for us, or wrong for their own interests? Could it be that they are assisting the work of the United States Bank (mis-named 'World Bank') which seeks to lend money worldwide to political leaders (good or bad) and leave the poorest workers of those countries to tighten their belts to pay back the interest on the loans, and at the same time swell the coffers of the bank? I am no economist, but I would think that advice from the Greenspan-Soros quarter to the SAR should be viewed with the greatest suspicion.

ELSIE TU Kwun Tong Kowloon