HONG KONG: More Bargains than Beds

Hong Kong, a capitalist balcony dangling on the outer wall of Red China, has become the world's largest and most varied supermarket. In this customs-free and refugee-packed enclave, Chinese merchants flourish, and practically anything—Japanese pearls, French perfumes, mandarin furniture—sells for a fraction of what it costs elsewhere. "If you live here," says a Western resident of the British crown colony of Hong Kong, "you're always broke because there are so many things you can't afford not to buy." The casual traveler can order eight best-quality English worsted suits at $25 apiece and receive them meticulously tailored, after two...

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