Economists in Hong Kong have been cheered at the sight of thickening pollution in the city of 7 million, signalling a revival in China's financial fortunes, a news report said Friday. Around 80 per cent of air pollution in the former British colony is reckoned to come from smoke-belching factories in neighbouring southern China, also known as the world's workshop.
In the first quarter of 2009, pollution levels dropped significantly, according to the South China Morning Post, as factories trimmed production or were closed down due to the slump.
Now, according to a leading economist quoted by the newspaper, pollution is once again "reassuringly bad" as factories ramp up production to match a revival in global demand.
Goldman Sachs economist Michael Buchanan said pollution levels dropped "meaningfully" in the first quarter but were now above the levels for the same time in 2008.
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