Joseph greenspan Hong Kong Monetary Authority chairman Joseph Yam Chi-kwong writes like Federal Reserve chairman Alan Greenspan speaks - not very well, in other words. Here's a taste of his latest weekly column: 'The doubling of oil prices from January 2002 to May 2004, assuming conservatively that the current higher level is sustained, could reduce the level of GDP in real terms by around 1 per cent relative to what it would have been had the oil price increases not occurred. 'But, I hasten to advise, do not take this 1 per cent off the forecast GDP growth rate of 6 per cent for 2004, because some [possibly half] of this impact will already have come through last year. In other words ...' Phewww. Looks like no one at the authority has the temerity to edit their boss. So let us formally volunteer our services. insecurity complex The delegation of Hong Kong tycoons currently touring northeast China was taken to an aircraft factory in Shenyang. But because the plant is considered a military installation, journalists accompanying the delegation were barred from entering and instead shipped off to a state pharmaceutical plant. PERSONA NON GRATA One person the tycoons-on-tour will not be meeting in northeast China is a 50-year-old laid-off worker who spent some time with our correspondent. 'I served five years in the PLA and then worked 25 years in a porcelain plant,' he said. 'Now I receive 200 yuan a month as my pension. Where is China's economic growth and who is benefitting from it? As long as the Chinese Communist Party remains in power, China has no future. Once it has gone, we will have a great future.'