The WTO Hong Kong Trade Policy Review issued on December 13 found substantial improvement in Hong Kong’s economic outlook, which it attributed largely to Hong Kong’s progress toward trade liberalization. The Review specifically noted the role of expanded IP protections, nascent comprehensive competition rules, and the Closer Economic Partnership Arrangement with China in the region’s economic upturn, while also warning that a return to protectionist measures toward China could exacerbate the adverse effects of a possible rise in US interest rates. For the reports of both the WTO and the Hong Kong regional administration, see here: http://www.wto.org/english/tratop_e/tpr_e/tp274_e.htm.