HK Donald Tsang: Singapore got no freedom, no benchmark

Here's where a cryptic remark by Donald Tsang, the Chief Executive of Hong Kong, comes in. In the 26 March 2007 edition of Time magazine (cover: A Vision for Hong Kong), there was a Q and A in which Tsang was asked,

Q: What city do you benchmark Hong Kong against?

A: As an international financial centre there are only two global benchmarks for Hong Kong: New York and London. Other places cannot compare with us. You look at the basic fundamentals to be an international financial centre. Dubai doesn't come close into the (picture) at all. Singapore doesn't come into it. It still hasn't got the freedoms we enjoy. Benchmarks must be above you, ahead of you.

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