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Hong Kong's economy rebounded sharply last year, posting double-digit GDP growth. Yet, with China's accession to the World Trade Organisation likely, some believe, to partly disintermediate Hong Kong in its role as the manager and marketer of the mainland's exports, the need to prepare the city for the challenge of China's accession is now being discussed. Others argue that its hold on its current role and as the capital-raising window for China has scarcely looked stronger. Re-export margins have been trending steadily upwards, driven by the larger volume of mainland trade being processed by Hong Kong.
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