Hong Kong’s Role in Asian and Pacific Economic Development

Abstract

Hong Kong is one of Asia’s four newly industrializing economies (NIEs) which have experienced very rapid economic growth in the past 25 years. While all of them have experienced export-oriented industrialization, there have been significant differences among them from the start of their rapid economic growth and development. Over time, their differences have become even more pronounced. It is very often asserted that the Asian NIEs can be divided into two groups: the Republic of Korea and Taipei, China on the one hand, and Hong Kong and Singapore on the other. Yet, there are in fact significant differences between the Republic of Korea and Taipei, China, and even more so between Hong Kong and Singapore…