Western public opinion frequently voices uncritical applause for the economic reforms in the People's Republic of China. The expectation of large sales opportunities in the Chinese market has led to a kind of China-euphoria in certain business circles. This frequently overlooks the fact that...

The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.