2002 in review

24 December 2002 and ongoing

It is masochistic at the end of each year to look back and consider the year's events. Much better to look forward with optimism to a brave new year.

It is masochistic, it is also customary.

From a personal perspective I will be delighted to see the end of this year. But for all my optimism, we enter 2003 with the world in a more perilous position that perhaps at any time since the last world war.

World events

The Euro was launched in 12 or 15 EEC countries on 1 January. Such common sense. And now, after all the fuss, no-one would want to return to the lire, escudo, franc or mark.

Enron and Worldcom collapsed mid year.

In October a bomb in Bali and the hostage taking in a Moscow theatre reminded us how real the terrorist threat still is. December attacks or bombs in Mombasa and the Philippines confirm that fear.

The British Royal Family lost the Queen mum (she was 101 years old); and then contrived to lose a nation's respect (again !!).

China had a change of leadership but no change of direction; in fact not even a pause for breath. In less than thirty years time the Chinese economy will be larger than the US economy.

Now at the end of the year the USA seems hell bent on a war with Iraq which will be bloody and quite possibly futile. In the meantime America seems to have conveniently forgotten Afghanistan.

Osama bin Laden appears to be still at large and is regrouping al-Qaeda. Another attack on US or other western interests appears inevitable. Your holiday paradise is not as safe as it once was.

The Middle East continues in crisis. A war in Iraq will simply escalate the region's problems.

The North Koreans are showing an unhealthy interest in nuclear weaponry and have disabled or removed UN monitoring equipment. The USA may find themselves battling the "axis of evil" on two fronts.

The financial markets remain in the doldrums. Fear of war and continuing doubts over corporate governance have severely hurt the markets in 2002.

And half the planet is hungry - hunger can make people very angry and very dangerous. The next war may not be over oil; it may be over food and water.

Sport

A fabulous World Cup was won by a deserving Brazil. Call me biased but England's grudge win over Argentina, settled by Beckham's toe-poked penalty, was the highlight.

The Europeans won the Ryder Cup; it was a wonderful contest. Ernie Els won the British Open as the Tiger was blown away.

After a decent summer England's battle for the Ashes in Australia was all over by lunch on the first day of the first test !

And England enter the Rugby World Cup as one of the favourites after beating South Africa, New Zealand and Australia in successive weeks.

Pete Sampras won the US tennis open - one up for the old guys !

Hong Kong

People rediscovered politics as the government tries to railroad Article 23 legislation.

The Fetish Fashion court hearing gave much mirth and raised alarms about police motivation.

Tung Chee-hwa started a second five year term in February. 49 months to go and counting !

The city entered its fifth year of declining prices!

Unemployment peaked at a record 7.8%

Soccer betting was finally legalized; that wont stop everyone from heading to Macau. But soccer betting will also be a monopoly; and yes it will be handled by the Jockey Club.