Hong Kong sets up economic task force

The chief executive recruits the likes of Morgan Stanley's Stephen Roach and Standard Chartered's Mervyn Davies to the task force.

As the global economy twists and turns in a downward spiral, the Hong Kong government announced yesterday that it is appointing a task force to study the matter.

Before you groan we donÆt need a task force, we need action, consider that if the government didnÆt put together such a group to question how it should handle the global financial meltdown, observers would in hindsight question if the chief executive had done the right thing by his people.

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