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52. Technologies, Rules, and Progress: The Case for Charter Cities
- Author:
- Paul Romer
- Publication Date:
- 03-2010
- Content Type:
- Working Paper
- Institution:
- Center for Global Development (CGD)
- Abstract:
- Non-resident fellow Paul Romer argues that the principal constraint to raising living standards in this century will come neither from scarce resources nor limited technologies. Rather it will come from our limited capacity to discover and implement new rules—new ideas about how to structure interactions among people, such as land titles, patents, and social norms. The central task of reducing global poverty is to find ways for developing countries to adopt new rules that are known to work better than the ones they have. Economists who advise leaders on policy have often overlooked why some good rules get adopted and others do not. But a better understanding of rules-that-change-rules could lead to breakthrough thinking about development policy. The special rules of China's Special Economic Zones, where new cities like Shenzhen could grow up, created small laboratories through which rules from Hong Kong spread to the mainland, helping unleash the largest and fastest reduction of poverty on record. Romer concludes that a new type of development policy would be to voluntarily charter new cities for the purpose of changing rules, using a range of new legal and political structures analogous to the ones that made Hong Kong and Shenzhen possible. The essay is adapted from a talk presented in Mexico City on October 2009, at the conference, “Challenges and Strategies for Promoting Economic Growth,” organized by Banco de México.
- Topic:
- Development, Poverty, and Science and Technology
- Political Geography:
- China, Asia, Mexico, Hong Kong, and Shenzhen
53. The Global Economic Crisis and Its Implications for Asian Economic Cooperation
- Author:
- Michael G. Plummer
- Publication Date:
- 10-2009
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- The economic crisis of 2008–09 is the second major crisis in just over a decade that Asia has endured. Unlike the Asian crisis of 1997–98, however, the current crisis originated mainly in the West. Asia's excessive reliance on net exports as the principal driver of economic growth since the 1997–98 crisis rendered it especially vulnerable to external shocks, and most Asian countries have paid dearly. The more open the economy, the more vulnerable it is to such shocks. The newly industrialized Asian economies (Singapore, Hong Kong, South Korea, and Taiwan), which are among the most open and dynamic in the world, are expected to contract by about 6 percent in 2009.
- Topic:
- Emerging Markets, International Trade and Finance, Regional Cooperation, Global Recession, and Financial Crisis
- Political Geography:
- Taiwan, Asia, South Korea, Singapore, and Hong Kong
54. Regional Overview: Tentative Multilateralism and Democracy in Action
- Author:
- Ralph A. Cossa and Brad Glosserman
- Publication Date:
- 01-2008
- Content Type:
- Journal Article
- Journal:
- Comparative Connections
- Institution:
- Center for Strategic and International Studies (CSIS)
- Abstract:
- The quarter began with high hopes, following the year's second Six-Party Talks “breakthrough,” but it was all down hill after that. On Oct. 3, Beijing announced a “second phase” implementation plan that laid out a series of specific Korean Peninsula denuclearization actions to be accomplished by Dec. 31. Unfortunately, the new year tolled with the most critical of these promised actions – a mutually acceptable “complete and correct declaration” of all North Korean nuclear programs, facilities, and activities – nowhere to be found. The much-anticipated ASEAN Charter was also signed this quarter but hopes that Myanmar would somehow be penalized for its brutal suppression of peaceful protests earlier in the fall were dashed as the other members took an ostrich-like approach to the problem. The third East Asia Summit took place as scheduled, with outside observers still not fully clear about the group's objectives or its place in the greater multilateral mix. The largest multilateral gathering of the quarter took place in Bali, where those worried about global warming expelled a lot of hot air in producing a potentially useful but currently not very specific “Bali Roadmap” on climate change. The democratic process remained alive and well with new governments being elected in Australia, South Korea, and Thailand, even as China was ruling that Hong Kong would not be ready for a more representative government until at least 2017. On the economic front, 2007 proved to be a good year for Asia, with growth consistent with pre-year projections; most forecasters see only a modest slowdown in 2008, despite lingering concerns about over the fallout from the U.S. subprime mortgage crisis.
- Political Geography:
- United States, China, East Asia, South Korea, North Korea, Australia, Thailand, Hong Kong, Myanmar, and Bali
55. U.S. - China: China Signals Irritation with U.S. Policy
- Author:
- Bonnie Glaser
- Publication Date:
- 01-2008
- Content Type:
- Journal Article
- Journal:
- Comparative Connections
- Institution:
- Center for Strategic and International Studies (CSIS)
- Abstract:
- China's refusal to allow the USS Kitty Hawk to make a scheduled visit in Hong Kong for Thanksgiving refocused attention on bilateral differences over Taiwan and Tibet. It also raised questions about civilian-military coordination in China and highlighted the mistrust between U.S. and Chinese militaries. A series of agreements were reached to promote better relations between the U.S. and Chinese militaries during a visit to China by Defense Secretary Robert Gates and a subsequent round of the Defense Consultative Talks. Economic and trade issues were at the top of the bilateral agenda as the Joint Commission on Commerce and Trade and Strategic Economic Dialogue convened and produced some successes, although not on the niggling issue of China's currency valuation.
- Political Geography:
- United States, China, Taiwan, Hong Kong, and Tibet
56. Ethics in Action: The Ethical Challenges of International Human Rights Nongovernmental Organizations by Daniel A. Bell and Jean-Marc Coicaud, eds.
- Author:
- Jennifer Rubenstein
- Publication Date:
- 09-2007
- Content Type:
- Journal Article
- Abstract:
- Between 2002-2005, the UN University and the City University of Hong Kong organized a series of "dialogues" about the ethical challenges facing international nongovernmental organizations (INGOs). The result is this fascinating and timely volume, which addresses not only human rights narrowly construed, but also humanitarian aid and development.
- Topic:
- Human Rights
- Political Geography:
- Hong Kong
57. The Long March in Hong Kong: Continuing Steps in the Transition from Colony to Democracy
- Author:
- Herman B. Leonard and Thomas S. Axworthy
- Publication Date:
- 08-2006
- Content Type:
- Working Paper
- Institution:
- The John F. Kennedy School of Government at Harvard University
- Abstract:
- Avowedly apolitical, Hong Kong is in the midst of the most rapid political transition in China and the success of this transition is crucial not only for the seven million residents of Hong Kong, but also for the future of China itself. How the authorities in Beijing respond to democratic demands from Hong Kong, and how the government of Hong Kong treads a democratic pathway within the boundaries of the Basic Law, are two of the most important questions in international politics today. China's decisions about Hong Kong will tell us much about the prospects of democratic transformation in China itself, and on that crucible the future of the 21 st century might turn.
- Topic:
- International Relations, Globalization, and Government
- Political Geography:
- China, Israel, Beijing, and Hong Kong
58. Two Simple Mechanisms for Advancing the Democratic Governance of Hong Kong
- Author:
- Herman B. Leonard and Thomas S. Axworthy
- Publication Date:
- 08-2006
- Content Type:
- Working Paper
- Institution:
- The John F. Kennedy School of Government at Harvard University
- Abstract:
- In recent discussions in Hong Kong, we outlined two suggestions for increasing the governance role that might be given to parties that successfully develop an electoral mandate.
- Topic:
- International Relations, Globalization, and Government
- Political Geography:
- Israel and Hong Kong
59. Oxfam Publishing: What happened in Hong Kong?: Initial analysis of the WTO Ministerial, December 2005
- Author:
- Duncan Green
- Publication Date:
- 12-2005
- Content Type:
- Policy Brief
- Institution:
- Oxfam Publishing
- Abstract:
- The WTO Hong Kong ministerial meeting was a lost opportunity to make trade fairer for poor people around the world. Rich countries put their commercial interests before those of developing countries. Small progress in agriculture was more than cancelled out by anti-development texts in services and industrial tariffs. Most of the difficult decisions were put off to a further meeting in early 2006.
- Topic:
- International Relations, International Trade and Finance, and World Trade Organization
- Political Geography:
- Hong Kong
60. Oxfam Publishing: Blood on the floor: how the rich countries have squeezed development out of the WTO Doha negotiations
- Author:
- Duncan Green
- Publication Date:
- 12-2005
- Content Type:
- Policy Brief
- Institution:
- Oxfam Publishing
- Abstract:
- Four years on, the Doha Round looks increasingly unlikely to deliver on its promises to the world's poor. Rich countries have sidelined developmjent concerns and insisted on, among other conditions, the "blood on the floor" rule, i.e. obtaining economically painful concessions from all countries, including poor ones. In agriculture, trade rules look set to remain stacked against developing countries and poor farmers. Talks on industrial tariffs could jeopardise the industries of poor countries. If the rich countries fail to significantly improve their offer at the WTO ministerial meeting in Hong Kong in December 2005, developing countries should not be expected to sign on to a bad deal.
- Topic:
- Development, Globalization, International Trade and Finance, and World Trade Organization
- Political Geography:
- Hong Kong
61. Prospects for Regional Free Trade in Asia
- Author:
- Gary Clyde Hufbauer and Yee Wong
- Publication Date:
- 10-2005
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- Frustrated with lackluster momentum in the WTO Doha Round and the Asia Pacific Economic Cooperation (APEC) forum, and mindful of free trade agreement (FTA) networks centered on the United States and Europe, Asian countries have joined the FTA game. By 2005, Asian countries (excluding China) had ratified 14 bilateral and regional FTAs and had negotiated but not implemented another seven. Asian nations are also actively negotiating some 23 bilateral and regional FTAs, many with non-Asian partners, including Australia, Canada, Chile, the European Union, India, and Qatar. China has been particularly active since 2000. It has completed three bilateral FTAs—Thailand in 2003 and Hong Kong and Macao in 2004—and is initiating another 17 bilateral and regional FTAs. However, a regional Asian economic bloc led by China seems distant, even though China accounts for about 30 percent of regional GDP. As in Europe and the Western Hemisphere, many Asian countries are pursuing FTAs with countries outside the region. On present evidence, the FTA process embraced with some enthusiasm in Asia, Europe, and the Western Hemisphere more closely resembles fingers reaching idiosycratically around the globe rather than politico-economic blocs centered respectively on Beijing, Brussels, and Washington.
- Topic:
- Economics, International Trade and Finance, and Regional Cooperation
- Political Geography:
- United States, China, Europe, Washington, Canada, India, Beijing, Asia, Australia, Qatar, Chile, Hong Kong, Brussels, and Macao
62. Adjusting Chinese Bilateral Trade Data: How Big is China's Trade Surplus
- Author:
- John W. Schindler and Dustin H. Beckett
- Publication Date:
- 04-2005
- Content Type:
- Working Paper
- Institution:
- Board of Governors of the Federal Reserve System
- Abstract:
- Hong Kong plays a prominent role as a re-exporter of a large percentage of trade bound for or coming from China. Current reporting practices in China and its trading partners do not fully reflect this role and therefore provide a misleading picture of the origin or ultimate destination of Chinese exports and imports. We adjust bilateral trade data for both China and its trading partners to correct for this problem. We also correct for differences due to markups in Hong Kong and different standards for reporting trade (c.i.f. versus f.o.b.). For 2003, we estimate that China's overall trade surplus was between $53 billion and $126 billion, larger than that reported in official Chinese data, but smaller than that reported by China's trading partners. We also provide evidence that, in general, the actual origin of a good that is transshipped through Hong Kong is correctly reported by the importing country, but the final destination of such goods is not correctly reported by the exporting country.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- United States, China, and Hong Kong
63. Taiwan Strait IV: How an Ultimate Political Settlement Might Look
- Publication Date:
- 02-2004
- Content Type:
- Working Paper
- Institution:
- International Crisis Group
- Abstract:
- Each side's most preferred solution for resolving the continuing Taiwan Strait issue – in the case of Taipei, widely recognised de jure independence; and in the case of Beijing, reunification of China on the same 'one country, two systems' basis as Hong Kong – are both non-starters. Neither society is likely to accommodate the other or change to the degree necessary to make either option realistically achievable, even ten or fifteen years down the road. If the risk of conflict across the Taiwan Strait – too serious to be accepted with equanimity, as the tensions of the last few months have shown – is to be reduced, then there has to be new thinking about what an ultimate political settlement might look like, and how to get there.
- Topic:
- Government, Politics, and Regional Cooperation
- Political Geography:
- China, Israel, Taiwan, Beijing, East Asia, and Hong Kong
64. China Brief, No More 'Soft Sell' for Hong Kong
- Author:
- Willy Lam, Zhu Feng, Kevin Scott, Marat Yermukanov, and Andrew Thompson
- Publication Date:
- 07-2004
- Content Type:
- Policy Brief
- Institution:
- The Jamestown Foundation
- Abstract:
- Beijing has acted quickly to dash the hopes that the half-a-million-people rally in Hong Kong last week will change the leadership's hard-line stance toward universal-suffrage elections in the special administrative region (SAR). While the Chinese Communist Party (CCP) has continued with its public-relations, united-front offensive to win hearts and minds in the territory, it is expected to step up its divide-and-run tactics in order to isolate and marginalize pro-democracy politicians and intellectuals who dare challenge Beijing's suzerainty.
- Topic:
- International Relations, Government, and Political Economy
- Political Geography:
- China, Israel, Beijing, and Hong Kong
65. Brookings Northeast Asia Survey, 2002-03
- Author:
- Catharin Dalpino and Richard Bush
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- This is the third edition of the Northeast Asian Survey, sponsored by the Center for Northeast Asian Policy Studies of the Brookings Institution. Following this review of developments in the region during 2002, the bulk of the volume is composed of essays that provide mid-term perspectives on internal dynamics in China, Hong Kong, and Japan, on the crisis on the Korean peninsula, and on relations between China and Taiwan and on China and Southeast Asia. All the authors have been affiliated with the Brookings Institution during the 2002-03 year. Most were CNAPS Visiting Fellows or Brookings Federal Executive Fellows.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- China, Taiwan, Asia, Southeast Asia, Hong Kong, and Northeast Asia
66. China Brief, Sars: Spreading Unrest
- Author:
- Willy Lam, William R. Hawkins, Harvey Stockwin, and Li Thian-hok
- Publication Date:
- 05-2003
- Content Type:
- Policy Brief
- Institution:
- The Jamestown Foundation
- Abstract:
- The spread of Severe Acute Respiratory Syndrome—the SARS virus—throughout China is a phenomenon that had previously been denied by authorities and had gone unreported. But the penetration of the disease is now being admitted publicly, and efforts to combat it have begun. While the immediate epidemic in Beijing appears to be in decline, the fear remains that the spread of SARS within China will still be difficult—and maybe impossible—to control, let alone to eliminate. World Health Organization (WHO) officials admit that what happens in China will “make or break” the course of the epidemic. China's neighbors, and particularly Hong Kong, worry that a failure to curtail the virus will inevitably result in a fresh round of crossborder infection, further intensifying the already grave economic impact of SARS on the region. At worst, a sustained epidemic could bring China's opening-up to the outside world to a screeching halt.
- Topic:
- International Relations, Government, and Political Economy
- Political Geography:
- China, Israel, Beijing, and Hong Kong
67. East Asia: Currency Cooperation
- Publication Date:
- 05-2002
- Content Type:
- Policy Brief
- Institution:
- Oxford Analytica
- Abstract:
- Former IMF First Deputy Managing Director Stanley Fischer expressed support for regional currency arrangements in a speech at the Hong Kong Monetary Authority on May 21. East Asian nations continue to discuss swap arrangements and other forms of cooperation in the hope of defending local currencies. Fischer endorsed the swap plans while throwing critical light on currency 'management' schemes. Such schemes could result in perverse consequences for regional economies.
- Topic:
- Economics, International Organization, and International Trade and Finance
- Political Geography:
- Asia and Hong Kong
68. Lebanon: Between Hong Kong And Hanoi
- Author:
- Yossi Baidatz
- Publication Date:
- 03-2001
- Content Type:
- Policy Brief
- Institution:
- The Washington Institute for Near East Policy
- Abstract:
- In recent weeks, a simmering debate between the two major power centers in domestic Lebanese politics has spilled into public view. This debate pits newly installed Prime Minister Rafiq Hariri, who represents those who want Lebanon to take advantage of Israel's withdrawal from southern Lebanon to focus on internal stability, economic reconstruction and securing foreign investment, against Hizballah leader Shaykh Hassan Nasrallah, who — with the support of Syria and Iran — champions maintaining Lebanon's role on the front line of the ongoing revolutionary resistance against Israel. This tension was described in the Lebanese newspaper an-Nahar as the choice between "Hanoi" (Nasrallah) and "Hong Kong" (Hariri). As with most Middle East crises, the development of this delicate and flammable dispute carries both risks and opportunities for Lebanon and other players on the Middle East scene.
- Topic:
- International Relations, Security, Foreign Policy, Economics, International Political Economy, Politics, and Terrorism
- Political Geography:
- United States, Europe, Iran, Middle East, Israel, Syria, and Hong Kong
69. Foreign Direct Investment in China: Effects on Growth and Economic Performance
- Author:
- Edward M. Graham and Erika Wada
- Publication Date:
- 04-2001
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- By almost all accounts, foreign direct investment (FDI) in China has been one of the major success stories of the past 10 years. Starting from a base of less than $19 billion in 1990, the stock of FDI in China rose to over $300 billion at the end of 1999. Ranked by the stock of inward FDI, China thus has become the leader among all developing nations and second among the APEC nations (only the United States holds a larger stock of inward FDI). China's FDI consists largely of greenfield investment, while inward FDI in the United States by contrast has been generated more by takeover of existing enterprises than by new establishment, a point developed later in this paper. The majority of FDI in China has originated from elsewhere in developing Asia (i.e., not including Japan). Hong Kong, now a largely self-governing “special autonomous region” of China itself, has been the largest source of record. The dominance of Hong Kong, however, is somewhat illusory in that much FDI nominally from Hong Kong in reality is from elsewhere. Some of what is listed as Hong Kong-source FDI in China is, in fact, investment by domestic Chinese that is “round-tripped” through Hong Kong. Other FDI in China listed as Hong Kong in origin is in reality from various western nations and Taiwan that is placed into China via Hong Kong intermediaries. Alas, no published records exist to indicate exactly how much FDI in China that is nominally from Hong Kong is in fact attributable to other nations.
- Topic:
- Economics, International Trade and Finance, and Political Economy
- Political Geography:
- United States, Japan, China, Israel, East Asia, Asia, and Hong Kong
70. Hong Kong Update: Fall 2000
- Author:
- Frank Ching, Ron Arculli, Steve Tsang, and Sunny Kai-sun Kwong
- Publication Date:
- 09-2000
- Content Type:
- Policy Brief
- Institution:
- Center for Strategic and International Studies (CSIS)
- Abstract:
- Since the Hong Kong Update's first issue was published in September 1997, the purpose of the bulletin has been to gauge accurately the continuing evolution of Hong Kong by presenting a broad spectrum of views on developments in the new Hong Kong Special Administrative Region (HKSAR). The Update has presented views from Washington, Hong Kong, and other areas of the world by inviting authors from both the U.S. Congress and Hong Kong SAR government; Washington and Hong Kong policy community; and U.S., Hong Kong, and international academics.
- Topic:
- Civil Society, Economics, Government, and Politics
- Political Geography:
- United States, Israel, and Hong Kong
71. Hong Kong Update: Summer 2000
- Author:
- Frank Ching, Sunny Kai-sun Kwong, Michael M.Y. Suen, and Eric Bjornlund
- Publication Date:
- 03-2000
- Content Type:
- Policy Brief
- Institution:
- Center for Strategic and International Studies (CSIS)
- Abstract:
- Sir Winston Churchill once said, “At the bottom of all the tributes paid to democracy is the little man, walking into the little booth, with a little pencil, making a little cross on a little bit of paper—no amount of rhetoric or voluminous discussion can possibly diminish the overwhelming importance of the point.” Churchill's statement in 1944 underlines the determination of the Hong Kong Special Administrative Region government to encourage voters to turn out in record numbers for this September's Legislative Council ( LegCo) elections.
- Topic:
- Civil Society, Democratization, Economics, and Politics
- Political Geography:
- Israel and Hong Kong
72. Hong Kong Update: Spring 2000
- Author:
- Frank Ching, Sunny Kai-sun Kwong, Barry Mortimer, Byron Weng, and James C. Hsiung
- Publication Date:
- 03-2000
- Content Type:
- Policy Brief
- Institution:
- Center for Strategic and International Studies (CSIS)
- Abstract:
- Last year was a momentous time for Hong Kong's new mini- constitution, the Basic Law. The history is too well known to detail here. In brief, the Court of Final Appeal (CFA) decided the right of abode cases (Ng Ka Ling and Chan Kam Nga). Later, the Hong Kong government sought and obtained a “clarification” of the judgment and the chief executive applied to the Standing Committee of the National Peoples Congress (NPC) for a further interpretation of the sections interpreted by the CFA (particularly Article 24(2)(3) of the Basic Law). The decision of the CFA stood, but for the future the Standing Committee provided the interpretation contended for by the Hong Kong government. (Should it be thought that the new interpretation was entirely arbitrary it accorded with the one earlier found to be the true interpretation by the Court of Appeal.) Many lawyers, commentators, politicians, and academics alleged that, in consequence, rule of law had been damaged and even that the independence of the judiciary had been diminished. Now that the dust has settled, the time has come to assess calmly the main issues that caused the controversy and see where we now stand.
- Topic:
- Civil Society, Economics, Government, and Politics
- Political Geography:
- Israel and Hong Kong
73. Hong Kong and the Pearl River Delta: "One Country, Two Systems" in the Emerging Metropolitan Context
- Author:
- Thomas P. Rohlen
- Publication Date:
- 07-2000
- Content Type:
- Working Paper
- Institution:
- Walter H. Shorenstein Asia-Pacific Research Center
- Abstract:
- Now, more than at any point since 1949, Hong Kong's economic future is tied to that of China. This commonplace observation must be coupled with the less obvious, but equally fundamental point that Hong Kong's future with China is based largely on activities that arise in or pass through the Pearl River Delta. This region, however, is cut in half by a sovereign border and governed by a patchwork of political authorities. The Delta as a whole is rich with opportunities, but it is increasingly apparent that these can be realized only if integration moves forward, both in a metropolitan and regional sense. This prospect is currently marked by serious uncertainties.
- Topic:
- Security
- Political Geography:
- United States, China, Asia, and Hong Kong
74. The New Asian Challenge
- Author:
- C. Fred Bergsten
- Publication Date:
- 03-2000
- Content Type:
- Working Paper
- Institution:
- Peterson Institute for International Economics (PIIE)
- Abstract:
- The initial postwar challenge from East Asia was economic. Japan crashed back into global markets in the 1960s, became the largest surplus and creditor country in the 1980s, and was viewed by many as the world's dominant economy by 1990. The newly industrialized countries (Korea, Taiwan, Hong Kong, Singapore) followed suit on a smaller but still substantial scale shortly thereafter. China only re-entered world commerce in the 1980s but has now become the second largest economy (in purchasing power terms), the second largest recipient of foreign direct investment inflows, and the second largest holder of monetary reserves. Indonesia and most of Southeast Asia grew at 7 percent for two or more decades. The oil crises of the 1970s and the financial crises of the late 1990s injected temporary setbacks but East Asia has clearly become a third major pole of the world economy, along with North America and Western Europe.
- Topic:
- Economics, International Trade and Finance, and Political Economy
- Political Geography:
- Japan, China, Europe, Israel, Taiwan, East Asia, Asia, North America, Korea, Singapore, and Hong Kong
75. Hong Kong Update: Winter 1999-2000
- Author:
- Frank Ching, Lee Kuan Yew, George Hui, and Sunny Kai-Sun Kwong
- Publication Date:
- 10-1999
- Content Type:
- Policy Brief
- Institution:
- Center for Strategic and International Studies (CSIS)
- Abstract:
- During my yearly visits to Hong Kong over the last thirty years, I was struck by the upbeat, can-do spirit of its people. However troublesome the situation, such as the noisy demonstrations of the imitators of the Red Guards in 1966 and 1967, or the economic downturn caused by the sudden quadrupling of oil prices in 1973, Hong Kong people were not dismayed or despondent. So when I spent a few days in Hong Kong at the beginning of June this year, I was surprised by its completely different mood. The people I met seemed frustrated at finding themselves in a situation where the solutions were not obvious. Much of the present malaise in Hong Kong arises from the problems of a transition that proved more difficult than expected. In part it was because of the five years of the last governor's policies, aggravated by the Asian financial crisis. Until the territory has come through this transition phase it is not possible to make any long-term forecasts on Hong Kong's future.
- Topic:
- Civil Society, Economics, Government, and Politics
- Political Geography:
- Israel and Hong Kong
76. The China-United States Bilateral Trade Balance: How Big Is It Really?
- Author:
- K.C. Fung and Lawrence Lau
- Publication Date:
- 04-1996
- Content Type:
- Working Paper
- Institution:
- Walter H. Shorenstein Asia-Pacific Research Center
- Abstract:
- There are huge discrepancies between the official Chinese and U.S. estimates of the bilateral trade balance. The discrepancies are caused by different treatments accorded to re-exports through Hong Kong, re-export markups, and trade in services. Deficit-shifting between China, on the one hand, and Hong Kong and Taiwan, on the other, due to direct investment in China from Taiwan and Hong Kong, is partly responsible for the growth in the China United States bilateral trade deficit.
- Topic:
- International Political Economy and International Trade and Finance
- Political Geography:
- United States, China, Taiwan, Asia, and Hong Kong