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In general, you can be a tourist in HK in about a long weekend, unless you have a burning desire to visit the scene of every Jackie Chan movie ever made. Major sights are the Peak (a view, some restaurants, nice walk, shopping), the Lantau Buddha (steps, and lots of them, buddha, shopping), Stanley (bus trip through the smart real estate, restaurants, shopping), junk trips (sightseeing, water ski, restaurants, shopping), etc. Accomodation runs from $30 a night including all the salmonella you can eat, to some of the world's best full-on luxury hotels at around $300.

As you can see there's all sorts of shopping going on, but it's not necessarily cheaper than at home for genuine goods. You can also pop over the border to China (about an hour on the train, visas needed) and get yourself a truckload of Guccci or Channel or Luois Vuiton bags at $10 each. Also many genuine antiques (and if they don't have what you're looking for they can run one up for you while you wait). And of course DVDs that fully respect the laws of copyright.

Other possible destinations to consider:
Vietnam: I would say Saigon is more interesting than Hanoi
Singapore, could also include Kuala Lumpur or Bintan (Indonesia)
Cambodia: Angkor Wat is truly astonishing
Shanghai: see the 21st century getting going
Beijing: Great Wall / Forbidden City etc tourist heaven


Regards

Mark