Hong Kong Trade Representative offers words of comfort to dethroned Memphis

HONG KONG came to Memphis to offer much appreciated words of comfort and consolation to the rival Tennessee airport it recently dethroned as the world's busiest cargo hub, reported the Memphis Commercial-Appeal.


"Everybody wants to be No 1," said Donald Tong, commissioner of Hong Kong's US economic and trade office. "But the reality is, there is only one No 1. As long as we can enjoy good growth, it doesn't really matter whether we're No 1, No 2 or No 3."


Speaking after his luncheon address to the Traffic Club of Memphis, a trucking and logistics group, he made these remarks to the local media before touring Memphis International Airport on his first visit to the city.


Hong Kong airport upstaged Memphis in 2010 in air cargo tonnage, ending the Tennessee's city's 18-year global ascendancy, said the Commercial Appeal.


Mr Tong touted business advantages of Hong Kong, which imported US$26 billion in US goods in 2010, including $333 million in chemical, computers, electronics and other products from Tennessee. FedEx, Eastman Chemical and International Paper are among more than 1,260 US companies with Hong Kong offices, said the report.


Audience member Sean Ellis, associate director of the Intermodal Freight Transportation Institute at the University of Memphis, said Mr Tong brought an interesting perspective.


"I thought it was very diplomatic how he put it, that Memphis and Hong Kong, we have been No 1 and No 2 in air cargo for very many years," he said.


Mr Tong told his audience that red-hot growth in Asia propelled Hong Kong past Memphis in 2010.


"I think it will be difficult for developed economies to continue to grow at a rate of eight, nine, ten per cent, but it is relatively easy for economies like China to continue to grow at a much faster rate," he said.


"We expect air cargo to continue to grow healthily. It is our wish that the US will continue to recover very quickly. I think this is to the benefit of the US and certainly Hong Kong and China," he said.


Mr Tong oversees offices in New York, Washington and San Francisco. New York office director Anita Chan, responsible for 31 states east of the Mississippi River, accompanied him to Memphis.
(Source:http://www.schednet.com)