How will Hong Kong benefit from China's admission to WTO?

Victor: There will be tremendous movement of goods in and out because of the opening of Chinese market. That will require an industry like supply-chain logistics to absorb a lot of labor, and that is our big story. About 85% of Hong Kong's economy is from services, compared with 33% in China.

So Hong Kong will for a long time be able to remain the service center for China. William: There is a whole aspect of logistics that is virtual and can go anywhere. The goods don't have to come to Hong Kong.

At Li & Fung, we orchestrate the logistics. It's a knowledge-based industry, a service industry of virtual logistics. The ideal is that when a bottle of shampoo gets sold off the shelf at the supermarket in Hong Kong, then we start mixing the active ingredients for a replacement bottle in the Thai factory.

Q: How is global supply-chain management affecting trade flows? William: One problem we have with trade flows is that all economies must attach country-of-origin identifications ... more.

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