A comparative analysis of the British and Chinese governance of Hong Kong with an emphasis on the economic sector.
Written in 2002; 2,216 words; 8 sources; MLA; $ 68.95
Paper Summary:
This paper examines how the political status of Hong Kong was transformed from that of a British Crown Colony to that of a Special Administrative Region (SAR) of the People's Republic of China (PRC) when political control of Hong Kong passed to the PRC from the United Kingdom on July 1, 1997. It analyzes the economic crisis of enormous magnitude that began in east and southeast Asia in the late summer of that same year and evaluates if the transfer of political control over Hong Kong to the PRC was a causal factor in the development of the economic crisis that swept east and southeast Asian nations in the last half of 1997.
Outline
Introduction
Comparing Pre-Transfer to Post-Transfer Macroeconomic Performance by the Hong Kong Economy
Population
Gross Domestic Product
Industrial Production
Consumer Prices
Unemployment
Wages
Real Estate Performance
Conclusion
From the Paper:
"Real estate prices plunged in Hong Kong once effects of the wider Asian economic crisis began to be felt in Hong Kong. During this period (which lasted approximately six months in late-1997 and early-1998), real estate prices fell approximately 50 percent. No recovery in real estate prices began to occur until 1999. During the first six months of 1999, real estate prices have recovered to the extent of increasing approximately 15 percent. Analysts in Hong Kong are divided over the issue of whether the recovery in real estate will continue. Many of these analysts are pessimistic because of the recent deterioration in political relations between the PRC and Taiwan ("Hong Kong Land Sale Above Market's Expectation," 1999)."
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