Hong Kong and Shanghai have agreed to step up co-operation in eight areas of the economy and trade ('Hong Kong, Shanghai tie the knot', October 28). Will Hong Kong lose its talent and investments? Are we giving away too much? In fact, the co-operation will bring benefits to both sides. Hong Kong and Shanghai have different strengths and weaknesses. For instance, Hong Kong has a sound law system, efficient administration and long history of economic development - which have all given confidence to foreign investors. Hong Kong people are flexible, creative and have a better international perspective. On the other hand, Shanghai people are hardworking and always strive for perfection, which has made the city's economy rocket in recent decades. Hong Kong and Shanghai are like two distinctive but brilliant individuals, so if they work together, a new spark will be created. China has implemented an open-door policy since the 1970s and all multinational companies are interested in this huge market. But some have been hesitant due to China's corrupt administration. Now, China has entered the World Trade Organisation and its international status has been recognised. Still, many foreign investors are not familiar with practices in China, so Hong Kong can act as a middleman and bridge the gap. Both parties will gain in the long run. Facing globalisation, we should look at the world from a wider angle. Boundaries between Hong Kong and China will be erased and we should work towards a common goal. However, if we do not make a total effort, we will be ruled out of co-operative relationships like the one with Shanghai, which may look for a new partner. Keen competition is inevitable, so the Hong Kong government should keep monitoring the economy and the relationship. STEPHANIE LAM, Tuen Mun
