All this talk about Sir Philip Haddon-Cave's 'positive non-intervention' policy seems to me to have completely missed the point.
I well remember that the former financial secretary's speech in 1980 was actually signalling an end to laissez-faire. I do not have the resources of a full library to refer to, but I clearly remember that everybody's interpretation at the time was that Sir Philip was signalling to the world that the Hong Kong government would, from then on, intervene in the market if necessary.
Sir Philip fully realised the implications of his move, however, and he therefore adopted a softly- softly approach by calling the policy 'positive non-intervention'. It must have racked the brains of his team to come up with such a term. What it really means is that the government will not intervene if the effects of market forces are positive.
This meaning was clear for the first 10 years after the policy was introduced, but probably got muddled after Sir Philip retired. And now Donald Tsang Yam-kuen is further confusing the issue by actually equating positive non-intervention with laissez-faire. He would not have got himself into such trouble in the first place had he remembered what it really meant.
SUNG NEE, Central
Code for 'procrastinate'