Around the world, governments are feverishly trying to reverse unprecedented sharp declines with huge increases in immediate public spending. China has even taken a lead. But the bureaucrats who administer (not govern) its Hong Kong territory have come up with a budget for the coming fiscal year beginning April 1 that is remarkably only in its determination to employ more civil servants and fund politically-inspired road and cross-border infrastructure projects whose economic benefits for Hong Kong have not been proven.
Hong Kong's Budget Blues
Hong Kong's Budget Blues
Hong Kong's Budget Blues
Around the world, governments are feverishly trying to reverse unprecedented sharp declines with huge increases in immediate public spending. China has even taken a lead. But the bureaucrats who administer (not govern) its Hong Kong territory have come up with a budget for the coming fiscal year beginning April 1 that is remarkably only in its determination to employ more civil servants and fund politically-inspired road and cross-border infrastructure projects whose economic benefits for Hong Kong have not been proven.
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