SCMP, December 12, 2002
When the history of the expansion of the Pearl River Delta is written in coming decades, it is tempting to think the events of yesterday (the going ahead for 24-hour border crossing) might warrant a footnote.
Beijing moved resolutely to back Chief Executive Tung Chee-hwa over further integration with the mainland, announcing agreement to open the border to 24-hour passenger traffic at Lok Ma Chau from Lunar New Year, voicing support for a bridge across the mighty river, stepping up negotiations on a Close Economic Partnership Agreement and allowing more mainland tourists to visit the SAR.
At the same time, the Federation of Hong Kong Industries produced a survey suggesting that Hong Kong firms employ now some 11 million workers on the mainland - an estimate that more than doubles previous studies.
Before that history can be written, however, it first must be made. The apparent opportunities presented by the fact the delta is one of the fastest growing areas on the planet could yet be squandered.
Hype could turn into a bubble of poorly-conceived assets. Petty 'village' antagonisms fuelled by political and cultural divides and rivalries could yet dominate, further promoting over-investment in some parts of the delta and under-investment in others.
