Editor’s note: Outlook is CNN's in-depth look at business climates around the world. To August 12, 2012, we’re focusing on Singapore.

(CNN) – It’s always been a case of two-way traffic in the spirited rivalry between Singapore and Hong Kong to attract expats – those that do a stretch in Singapore often do one in Hong Kong, too.

The comparisons form a staple of bar room chatter in both Asian cities.

After Singapore’s manicured dormitory suburbs, the sometimes over-weaning presence of the state and its tame media, Hong Kong’s fast pace polity and bare-knuckled local press can be a breath of fresh air. FULL POST