From left: John Marden, of Wheelock, Marden and Co., shipping tycoon Pao Yue-kong Pao, Tormod Rafgard and William W Y Lee, of World-Wide Shipping, at the Hong Kong Club, in 1979. Photo: SCMP
Opinion
Opinion
Then & Now
Colonial Hong Kong’s ‘creative’ approach to lending to ex-China shipowners
While tycoons cried racism, their ships were breaking the UN embargo on trading with China – and their mainland families were under threat
From left: John Marden, of Wheelock, Marden and Co., shipping tycoon Pao Yue-kong Pao, Tormod Rafgard and William W Y Lee, of World-Wide Shipping, at the Hong Kong Club, in 1979. Photo: SCMP