Hong Kong is reaching an interesting phase in its post-colonial history. The departure of the Chief Executive in 2012 clearly marks the end of the post-colonial transition. A transition during which, after an initial false start, there have been considerable continuities in governmental culture and policies. A key task for future administrations is to work out in some detail what the future of the Hong Kong economy might be. The present economy has many strengths: a high average per capita income, a sound fiscal position, a reasonably robust legal system, and a capacity to attract foreign investment into the services sector. Nonetheless, the unanswered question remains: in what spheres of economic activity will Hong Kong be able to maintain comparative advantage in the longer run - particularly in relation to the mainland? What, furthermore, are the implications of any answer for employment, income distribution, and levels of poverty and deprivation - already problems to which so far only short-term palliatives have been applied.
展开▼
