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This is the first comprehensive history of Hong Kong's insurance industry, and argues its central importance in the economy. Typhoons, shipwrecks, fires, wars, political turbulence and unexpected events of all kinds provide a dramatic background to a fascinating survey.

Since its handover from the UK to the People's Republic of China on 30 June 1997, Hong Kong has been struck by a number of crises. This paper reports the results of an empirical investigation of how Hong Kong companies prepare for crisis. The research design was based on a replication and extension of a study originally conducted in the USA. Analysis of data collected through a survey of senior executives revealed that 21 Hong Kong companies had a crisis management plan (CMP). The rationale for crisis planning, and characteristics of structural components of the CMP, including both the crisis management team and crisis communication plan, are discussed.

Reaction to Fransman (1982) who examined the capital goods sector in Hongkong and came to the conclusion that it needed special protection by the government. Statistical evidence is provided indicating that the capital goods sector is prospering. Fransman's case for infant industry protection is further weakened by consideration of the nature of the particular industrial structure of Hongkong and the quality of the social relations that prevail between entrepreneurs. It is argued that the costs of singling out the capital goods sector for special treatment are likely to be high, while the theoretical benefits from externalities are liable to be illusory in a small economy. (Economische Voorlichtingsdienst)