'Survival of the fittest' process to help in long run: Tung aide

A key adviser to Chief Executive Tung Chee-hwa said a process of survival of the fittest as the economy restructured would help Hong Kong to compete globally in the long run.

Henry Tang Ying-yen, who sits on the Executive Council, said in an interview with the South China Morning Post: 'It might be a bit too cold-blooded [to say this]. Hong Kong is already a matured economy. A process of elimination is inevitable and has to take place continuously. But for those who are more vulnerable, we need to take care of them.'

Mr Tang, an industrialist, said the economic slowdown in the United States would be worsened by the uncertainty in the aftermath of the terrorist attacks.

'Hong Kong faces a big test . . . Many of our younger generation have never experienced such stormy times before. This will be good for Hong Kong. I'm confident we can make it.

'We must not panic and rock our own foundations. It would be better for the Government not to do too many things . . . We have to maintain the principle of a free market.'

Mr Tang said he was not against some government initiatives to relieve economic pain, but the major criteria for such measures must be 'economic effectiveness and benefits'.