Economic compitetion of Hong-Kong vs China since 1960’s
This Graph deals with comparision of of economic growth of Hong-Kong vs since the mid of 1900’s. Hong Kong’s economy relative to China’s gross domestic product (GDP) has fallen from a peak of 27 percent in 1993 to less than 3 percent in 2017.
In 1997, when Britain handed the city back to Chinese sovereignty, Hong Kong’s GDP was still around 20 percent the size of the mainland economy, as the territory played the vital role of a middleman in China’s trade and investments with the rest of the world.
Through the years, however, China underwent enormous economic growth. Cities such as Shenzhen and Shanghai developed rapidly and continued to attract huge foreign investment. The Chinese government also launched a slew of policies, such as the establishment of free trade zones, to further stimulate the nation’s economic expansion. As for Hong Kong, it failed to change its economic structure sufficiently, leading to lack of new growth engines.
So now, twenty years after the handover, we have a situation where Hong Kong’s GDP is equivalent to just 2.9 percent of China’s economy.
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Identity crisis Hong-kong vs China
The controversy has divided Hongkongers, with some suggesting the localists were right to assert their views of independence, while others claimed the pair had caused unnecessary political conflict.
The annual survey, conducted of Hong Kong’s return to Chinese rule showed younger respondents were more likely to feel negative about Beijing’s policies towards Hong Kong.
The out come was more Hongkongers proud of their identity as Chinese citizens, but young people don’t share the sentiment.Latest University of Hong Kong poll shows increase in number expressing positive feelings, but only 16 per cent of 18 to 29-year-olds agree
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Confidence level comparision
A public opinion survey was conducted by the University of Hong Kong’s Public Opinion Program.Results from the poll of 1,000 people revealed the younger the respondent, the less proud they felt about becoming a Chinese national citizen, and the more negative they were about the Central Government’s policies on Hong Kong.
‘One country, two systems’ just turned to ‘one country, one-and-a-half systems’, and high-degree autonomy is under the threat of Beijing.
The situation in Hong Kong turned from rule of law to rule by law.
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GDP Composition
By the graph we can see that China concentrates on all the three sectors, i.e. Agriculture, Industry and Services whereas Hong-Kong mainly concentrate on Services. Services contribute to around 90% of the GDP. China being too huge has around 28.3% of labour force for agriculture, 29.3% for Industry and 42.4 % for Services. On the other hand Hong-kong has 3.8 % of Manufacturing, 2.8% of construction and 93.4% of other Services. Chain has 6.2 % of industrial growth, where as Hong-kong has 3% of growth(according to 2017 survey)
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