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Consumer confidence levels rose slightly in Hong Kong in the first quarter of 2009, placing it behind Beijing but above Macau and Taiwan, according to a survey conducted by CityU.
It is a common misrepresentation that globalization means international markets will converge to form common paradigms and practices, said Professor Anthony Cheung of City University's Department of Public and Social Administration. Countries are more likely to re-interpret global models of economics to reflect trends and beliefs embedded within an individual society, he believes.