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The latest consumer survey by CityU shows that consumer confidence in mainland China, Hong Kong and Macau declined again in the first quarter of 2010 while in Taiwan it climbed for the fourth consecutive quarters.
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.