1998 will prove a watershed for telecommunications and telecommunications policy in Hong Kong; it will mark the end of an era dominated by ever growing revenues from the international voice public-switched telephone service, revenues which cross-subsidized the domestic public switched telecommunications network. It will also mark the final close on the monopoly of Hongkong Telecom, a monopoly that has been subject to a process of erosion which started in the 1980s and accelerated during the 1990s.
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