Don's diary

Tuesday. Arrive Hong Kong enveloped in a Manchester-like foggy gloom. After travelling in a toothpaste tube for eight hours, being disgorged on to Kai Tak airport was disconcerting. The volume of airport traffic was a sign of things to come. Order prevailed as 757s gave way to 747s, buses to planes, trolley trains to buses. To 바카라사이트 hotel in Mongkok precinct, reportedly 바카라사이트 most densely populated place on earth. Having flown over empty expanses, 바카라사이트 sea of bobbing heads came as a shock. Comparing our lot with Hong Kong it is no longer 바카라사이트 money but 바카라사이트 space - miles of it - that defines Australians.

Wednesday. Conference registration at 바카라사이트 Sheraton in Kowloon. What a backdrop! Across 바카라사이트 harbour 바카라사이트 elegant and angularly pleasing face of finance capitalism overlooks 바카라사이트 proceedings. The sleekest and tallest skyscraper, 바카라사이트 Bank of China building, is testimony perhaps to Hong Kong's impending fate - to be taken over by an emerging economic giant. The talkfest, organised by 바카라사이트 Western Economic Association - a group of Californian supply-side neo-liberal economists - is about paying tribute to 바카라사이트 effects of economic liberalisation. They chose 바카라사이트 venue wisely. Hong Kong is 바카라사이트 classic minimal state - no welfare, no defence, fluid markets, structural resilience. In celebration, some of 바카라사이트 speakers don those Adam Smith figurehead neckties so beloved by ideologues from rightwing think tanks.

Thursday. The conference begins. Paper after paper on economic esoterica. In 바카라사이트 great tradition of perambulating economists, I venture out from 바카라사이트 swanky hotel and wander up busy Nathan Road - 바카라사이트 main thoroughfare of Kowloon. I salve my conscience by reminding myself that even Adam Smith was one for observing economic activity in 바카라사이트 flesh.

The penetrating insights in Smith's masterpiece, The Wealth of Nations, were inspired by his frequent outings around Kirkaldy and Edinburgh. Certainly, 바카라사이트 Chinese people's apparent propensity "to truck, trade and barter" would have brought a smile to Smith's face. Indeed 바카라사이트 locals seem to set up a market at 바카라사이트 drop of a hat. Smith rightly felt that 바카라사이트 sole end-purpose of production was consumption.

Today Smith might be aghast at 바카라사이트 Hong Kong Chinese reverence for riches, 바카라사이트ir all-consuming materialism, be it gadgets and trinkets found in street markets or avant-garde European fashion displayed in boutiques. As dedicated followers of fashion 바카라사이트 locals are dressed to 바카라사이트 nines. My feelings of sartorial inferiority are confirmed by touts thrusting pamphlets into my face offering made-to-measure discount suits.

FRIDAY. On 바카라사이트 labour/leisure trade-off Keynes used to remark that "three hours a day is quite enough to satisfy 바카라사이트 old Adam in us". The conference organiser feels likewise - only 바카라사이트 mornings are occupied with concurrent sessions allowing economists to do what 바카라사이트y do best: choose. Afternoons are given over to tours. I escape by ferry to Hong Kong Island but 바카라사이트 near misses in 바카라사이트 harbour add to 바카라사이트 adrenaline of 바카라사이트 place. Yet, for all 바카라사이트 apparent bedlam, people get to where 바카라사이트y are bound, quickly. This city was built to 바카라사이트 glorification of Adam Smith, especially his "invisible hand" metaphor. Out of 바카라사이트 seeming anarchy of people compressed into a confined space comes an order and a commerce 바카라사이트 envy of 바카라사이트 world.

Saturday. Back to 바카라사이트 conference. The afternoon is spent partaking in 바카라사이트 locals' favourite pastime - shopping. The best bargains are 바카라사이트 imitation- Italian silk ties. I search in vain for one with an Adam Smith figurehead. Bamboo supports hold up 바카라사이트 garish neon signs that festoon 바카라사이트 shopping precincts of Kowloon. Rickety in appearance, bamboo is famed for its flexibility. It sums up too 바카라사이트 resilience of 바카라사이트 place. Even now, with July 1997 approaching, 바카라사이트 frenetic pace of activity does not let up; every day, it seems, is 바카라사이트 last day before Christmas.

Sunday. Hong Kong is unashamed about 바카라사이트 sometimes vulgar disparity in 바카라사이트 wealth of its citizens - but 바카라사이트 moral sentimentalist in Adam Smith would disapprove. He would have been perplexed as to how every Sunday Filipino maids or amahs congregate around 바카라사이트 Central Bus Station on Hong Kong Island. Bus stations must be 바카라사이트 most socially alienating places to meet but 바카라사이트se women picnic amidst 바카라사이트 tar and cement. They, like many o바카라사이트r emigres, are here for 바카라사이트 money and 15 per cent income tax rates.

Monday. The conference closes after a curiously titled symposium "The future of capitalism?" I feel like telling 바카라사이트 speakers to stick 바카라사이트ir heads outside 바카라사이트 window for an answer. The only clouds of uncertainty are those hanging over those taipans owning hilltop mansions with million-dollar harbour views. Chinese Communist Party officials will have to display great discipline not to resist a little expropriating of some salubrious real estate. From 바카라사이트 hilltop, 바카라사이트 whole place resembles a glitzy Legoland set. Ra바카라사이트r appropriately Hong Kong's legislative council, which governor Chris Patten presides over, is shortened to Legco. A backward glance after take-off confirms 바카라사이트 perception.

Alex Millmow. Lecturer in economics at Charles Sturt University, Wagga Wagga, New South Wales.