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Written by Leung Ping-kwan in the 1980's and 1990's, this volume of poetry evokes the complexity of Hong Kong city life in the critical moments preceding the 1997 handover. The poet muses upon the problems of cultural identity and the passing of time, and explores the relationship between poetry and other genres and media within a cross-cultural and cross-border context. An introduction by Ackbar Abbas in the original edition relates Leung's writing to the cultural and political space of Hong Kong in the 1990's. This expanded bilingual version adds a new essay by Esther Cheung, and also a recent

Chinese poetry --- Chinese literature --- Leung, Ping-kwan, --- Leung, P. K. --- Liang, Bingjun, --- 梁秉鈞, --- Yesi, --- Hong Kong (China) --- Hong Kong Special Administrative Region (China) --- Xiang gang te bie xing zheng qu (China) --- 香港特別行政區 (China) --- Zhonghua Renmin Gongheguo Xianggang Tebie Xingzhengqu --- Chung-hua jen min kung ho kuo Hsiang-kang tʻe pieh hsing cheng chʻü --- Zhong hua ren min gong he guo Xiang gang te bie xing zheng qu --- 中華人民共和國香港特別行政區 --- HKSAR (China) --- Hsiang-kang tʻe pieh hsing cheng chʻü (China) --- Xianggang (China) --- 香港 (China) --- Xianggang Tebie Xingzhengqu (China) --- Hong Kong S.A.R. (China) --- Hong Kong --- Social conditions

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Hong Kong SAR was hit hard by the global financial crisis, which started out in the U.S. and spilled over to the rest of the world. Three years later, vulnerabilities in the euro area's financial system and concerns over a hard landing in Mainland China have started to weigh on Hong Kong's growth prospects. Against this backdrop, this paper aims to quantify the trade and financial spillovers on Hong Kong SAR's economy from a downturn in the euro area and Mainland China. Based on simulations using a version of the Global Integrated Monetary and Fiscal (GIMF) model and a Global VAR (GVAR) that includes both balance sheet and standard macroeconomic indicators, Hong Kong SAR's output growth could fall by as much as 1½ times the decline in euro area output growth given its high dependence on external trade and many links with the global financial system. A worsening of the crisis in the euro area could reduce Hong Kong SAR's output by as much as 4-4½ percent below baseline during the first two years after the shock, pushing Hong Kong SAR back into recession and possible deflation. In the event of a hard landing in China, the model simulations suggest that Hong Kong SAR would be on a sustained downturn with output growth falling by about 3 percentage points below baseline in the first two years. Should these events materialize, countercyclical fiscal response could help cushion, but not fully offset, the impact of slower growth in the euro area or China.

Financial crises --- International finance. --- International monetary system --- International money --- Finance --- International economic relations --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Econometric models. --- Hong Kong (China) --- Hong Kong Special Administrative Region (China) --- Xiang gang te bie xing zheng qu (China) --- 香港特別行政區 (China) --- Zhonghua Renmin Gongheguo Xianggang Tebie Xingzhengqu --- Chung-hua jen min kung ho kuo Hsiang-kang tʻe pieh hsing cheng chʻü --- Zhong hua ren min gong he guo Xiang gang te bie xing zheng qu --- 中華人民共和國香港特別行政區 --- HKSAR (China) --- Hsiang-kang tʻe pieh hsing cheng chʻü (China) --- Xianggang (China) --- 香港 (China) --- Xianggang Tebie Xingzhengqu (China) --- Hong Kong S.A.R. (China) --- Hong Kong --- Economic conditions --- Banks and Banking --- Labor --- Macroeconomics --- Money and Monetary Policy --- Financial Risk Management --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Macroeconomics: Consumption --- Saving --- Wealth --- Financial Crises --- Labor Demand --- Banking --- Monetary economics --- Economic & financial crises & disasters --- Labour --- income economics --- Credit --- Private consumption --- Global financial crisis of 2008-2009 --- Self-employment --- Money --- National accounts --- Consumption --- Banks and banking --- Economics --- Global Financial Crisis, 2008-2009 --- Self-employed --- Hong Kong Special Administrative Region, People's Republic of China