In about 40 years, Hong Kong has, against all odds, developed from a relatively obscure entrepot into a thriving industrial and financial economy of world renown. While such a complete metamorphosis constitutes an intriguing story, what of its future? Challenges of creeping, if not steadily proliferating, mercantilist forces and changing international division of labour aside, the capitalist city-economy of Hong Kong is now faced with the problem of changing governance. In all conscience, the future of Hong Kong, especially its post-1997 destiny as a free-market economy, as many have argued, hangs in the balance. Focusing on relationships concerning trade in manufactures, industrial restructuring and economic development against a background of data, this book offers an examination of the evolution and characteristics of Hong Kong's postwar economy in a historical and comparative perspective, its symbiotic connection with South China in the light of China's open-door policy since late 1970s, as well as a thoughtful assessment of its current turning point.
Despite its emphasis on the economy of Hong Kong, this book has a broader objective - to contribute to the debate on alternative paths to growth and industrial restructuring in the context of a rational "dirigisme", a debate particularly relevant not only to academics in the realm of development economics but also to government economists and other officials concerned with looking for growth lessons and development strategies.
List of Tables - Preface - List of Abbreviations - Introduction - Growth Experience and Structural Changes - External Orientation and Patterns of Trade - Comparative Advantage in Trade in Manufactures - Labour and Labour Market Adjustment - Small-Scale Enterprises in the Process of Industrial Development - Inward Investment in the Course of Industrial Development - Industrial Restructuring: Issues, Past Efforts and Problems - Public Finance and Public Policy for New Development Needs - The China Factor and Economic Future of Hong Kong - Conclusion - Notes - Bibliography - Index
Series: Studies in the Economies of East and South-east Asia
Number Of Pages: 297
Published: 14th September 1992
Country of Publication: GB
Dimensions (cm): 22.3 x 14.5
Weight (kg): 0.55
Edition Number: 1