THE role Hong Kong plays in China's development will be similar to that of New York in the development of the American economy, according to Lord Rees-Mogg, former editor of The Times.
In his keynote speech at the presentation ceremony of the DHL/South China Morning Post Business Awards last night, Lord Rees-Mogg said: ''I am a great believer in the future of Hong Kong.'' He said the development of China, despite difficulties, was likely to turn it into the world's largest economy by the middle of the next century.
''In the process, Hong Kong will play a role similar to that of New York in the development of the American economy. Hong Kong is the major external link and the point of in-flow of investment funds,'' he said.
Lord Rees-Mogg, an author, politician and economic forecaster, said Hong Kong was likely to be the world's most important trading and investment city in the first half of the 21st century.
''The Chinese economy is moving towards being the largest economy in the world and Hong Kong is the trading and investment centre related to that,'' he told the gathering.
He said he believed Hong Kong and Britain would maintain a good relationship after 1997.
