Integration of Hong Kong and China's Economies
This paper examines the shift in Hong Kong's economy from one of manufacturing goods to one of providing services and explores the integration of this economy with the economy of mainland China.
# 74977 | 2,499 words | 11 sources | MLA | 2006 |
Published on Nov 13, 2006 in Economics (International) , History (Asian) , Political Science (Communism) , Asian Studies (General)
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The economy of Hong Kong has, over the past few decades, made significant changes toward becoming a service-oriented one as opposed to being focused on manufacturing. This shift has resulted in greater integration with the mainland of China due to the large number of manufacturing jobs being exported to the mainland as a result of the cheaper labor available there as well as due to the Chinese demand for the services provided by Hong Kong. This paper explores Hong Kong's evolution from a primarily goods-based economy to one heavily tilted towards services, and the effects of these shifts as documented in other economies as well as the duplication of these changes in Hong Kong. It also explains the factors which encourage greater integration with mainland China as a result of this shift. This has resulted in a beneficial relationship for the two nations' economic situations.
From the Paper:"In 1997, control of the British colony of Hong Kong was officially transferred to the People's Republic of China, politically and otherwise officially integrating two entities which had, for years, been enmeshed with one another in many ways. In accordance with the Sino-British Joint Declaration on the Question of Hong Kong, administrative and certain other controls shifted to mainland China, and many of the vestiges of colonial British rule were removed."
Cite this Research Paper:
Integration of Hong Kong and China's Economies (2006, November 13) Retrieved September 29, 2022, from https://www.academon.com/research-paper/integration-of-hong-kong-and-china-economies-74977/
"Integration of Hong Kong and China's Economies" 13 November 2006. Web. 29 September. 2022. <https://www.academon.com/research-paper/integration-of-hong-kong-and-china-economies-74977/>