In 1974, on the first of several trips, Hong Kong pulsed with the energy of its third world roots, of boat people and squatter housing, of stalls, workshops and markets in every nook and cranny. And with the jackhammer energy of construction. On each return it seemed a new city, rebuilt beyond recognition. Its energies are now only those of success, wealth and civic consciousness, a world model of government planning and free market enterprise in which everything works and everyone prospers. Now under new management, one hopes that it will remain always so.