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Role of Foreign Investment

Many people in Hong Kong worry that a resurgence ofradical political strength in the PRC at some future time would nullify any agreement made with the current government.

Hong Kong is slated to become a Special Administrative Region (SAR) in the PRC, for the initial 50 years subsequent to its return to China. The PRC developed a constitution for the Hong Kong SAR, which is known as the Basic Law. As it now stands, the Basic Law will not provide Hong Kong residents with the degree of political autonomy within the PRC that many

4E. Ellis, "Hong Kong's Exodus Begins," The Sydney Morn ing Herald, 13 January 1988, A3.

5J. Morris, "Future Shock in Hong Kong," The New York Times, 25 October 1987, VI/49.

5of them would desire. Thus, one more worry surrounds the upcoming 1997 transfer of political power. The irony in the apprehensions of the Hong Kongese is that they have enjoyed no political power under British administration of the colony over the past 147 years. Thus, they are not really being asked to give up any political power. They are, rather, being asked to exchange the devil they know well for one whom they believe they know.

Hong Kong has a booming middle industrial level economy. It is also one of the world's major financial centers. Projecting the status of the Hong Kong economy in 1997 is, at best, speculation.

In spite of the strong record of growth in the Hong Kong economy, and in spite of the fact that its per capita income is the second highest in Asia (behind Japan), income distribution in the colony is strongly skewed toward the wealthy. In Hong Kong, the fabulously rich live along side (so to speak) the miserably poor.

The greatest danger to the Hong Kong economy subsequent to 1 January 1997 will not likely come from the government of the PRC. Rather, it will likely come from the Hong Kongese themselves who are fleeing the colony. Many of those individuals and families leaving the col...

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Role of Foreign Investment. (2000, January 01). In LotsofEssays.com. Retrieved 01:25, November 26, 2014, from http://www.collegetermpapers.com/viewpaper/1303695059.html
 
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