Hong Kong

Hong Kong, the pearl of Asia has been the center of trade and finance in Asia since the wee 20th century. In a short history of close 150 years, Hong Kong has become the source of growth for many nearby economies. In a certain sense, it can be point said that it is a merchant city founded and managed by businessmen. handed-down hongs or trade houses of Hong Kong were the pillar of the preservation. Jardine Matheson and Hutchison were major hongs that led the economy and the Hong Kong & Shanghi Bank were the financier of these hongs and has today grown to become maven of the largest bank in the world. These firms were the critical factors of the growth for Hong Kongs economy. Their role even so has changed overtime. They are no longer the de facto leaders of Hong Kong as they were in the mid 1800s. Their role has diminished as Hong Kong grew to become much international, and the 1997 handover to the Peoples Republic of China has further altered their position. few hongs that adapted well to the changing times prospered while others each went bankrupt or become stagnant. Background on Hong Kong EconomyThe grime of Hong Kong is located at the mouth of the Pearl River, a slight southwest of the Guangdong Province of the PRC.

Hong Kong was ceded to the British after the Opium War in 1842. Many believe that the British hongs were behind lobbying the British organization into fighting the Chinese Government and the settlement of the island. Kowloon was annexed in 1860, and the new-fashi cardinald territories were leased for 99 years in 1898. In 1984, the British and the PRC government agreed that Hong Kong as a safe and sound would return to Chinese soverienty in 1997. However, a system of one country two systems were also agreed upon where Hong Kong would retain its posture as a free port, with its laws remaining unchanged for 50 years. Its main emphasis is to preserve Hong Kongs laws and economic freedom, thus to call forth the position of Hong... If you want to get a full essay, indian lodge it on our website: Orderessay

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