Chinas Take Over Of Hong Kong History Essay

chinas Take Over Of Hong Kong History EssayThe peoples of Republic of china took everyplace Hong Kong in 1997.mainland China had promised to keep a capitalist economy in Hong Kong for 50 years. Still, m any Hong Kong business people (and their families) have migrated to other nation such as Canada and Australia.Discuss the meeting of this situation on Chinas Political and Social environment.IntroductionHong Kong is a Special Administrative Region (SAR) of the sights Republic of China (PRC) and maintains a exalted degree of autonomy except in matters of defense and opposed affairs.It has intumesce-established institutions that support the rule of law and a vigorous civil society. The Basic Law, the SARs constitution, was sanctioned by the PRC in 1990. It provides for the protection of fundamental rights and calls for progress toward universal suffrage and further democratization after a 10-year period, starting with Hong Kongs July 1, 1997, reversion to Chinese soereignty. The Chief Executive is chosen by an 800-person selection committee composed of individuals who are either directly elected, indirectly elected, or appointed. The Chief Executive supervises a cabinet of principal officers whom he appoints. The power of the Legislative Council (legislature) is significantly circumscribed by the Basic Law.The legislature is composed of 24 directly elected members representing geographic districts, 30 indirectly elected members representing functional (occupational) constituencies, and 6 members elected indirectly by an election committee.It was the scotch and social forces unleashed in 1979 in Chinas open access policy and Hong Kongs response to them that may ultimately determine their fate. Given the disparity in the level of scotch development and the differences in the economic system among Hong Kong and the mainland, there are obvious benefits to gravider integration and this entails making the border to a greater extent permeable.Managing the pe rmeability of the border has to become an integral part of all economic and social policies within Hong Kong as the two matters result have implications for each other. The period prior to 1949 was one where there was perfect permeability and standards of living were analogous betwixt Hong Kong and the mainland. The period between 1949 and 1979 was one where there was essentially no or very hold permeability and standards of living were therefore permitted to diverge between the mainland and Hong Kong. In both periods the government was able to pursue a laissez faire system without any fundamental inconsistency. This is no longer the case with the opening of China.SummaryChina Take over in a Hong Kong in 1997, there was a carnival atmosphere. In another, a somber rally and March followed by a candlelight vigil. Its clear that one year before China takes control the people of Hong Kong are divided in their feelings. A period of more than one hundred fifty years of British coloni al rule ends at midnight on June 30, 1997 when Hong Kong and its 6,000,000 people lead be handed over to China. Despite a warning that they will not be allowed to enter China, seven elected Hong Kong officials vowed to go ahead with a trip to capital of Red China. They will be carrying a 50,000 signature petition protesting Chinas plans to exchange the legislature with an appointed body. We are afraid that our free lifestyles, the rule of law, will not be preserved after 1997, pro democracy legislator Emily Lau told the cheering, clapping crowd. regulator Chris Patten urged Hong Kong residents to standup for their freedoms..Nominal GDP, Per Capita GDP and Foreign exchange rates were all on the increasing side. Due to high exports between 1994-1997 and imports their trade balance has been at a surplus causing their nominal GDP to increase through out the years. Nominal GDP million US$ 1994 130,808, in 1995 139,238 and in 1997 173,045. From 1994-1997 Hong Kongs foreign currency rese rves increased exponentially from $49.3 billion in 1994 to $92.8 billion in 1997. The reason for this increase is primarily due to a very well managed trade balance. The interest rate environment in Hong Kong provided an excellent backdrop for the equity markets.MIGRATION IN HONGKONGThe peoples of Republic of china took over Hong Kong in 1997 and promised to keep a capitalist economy in Hong Kong for 50 years. However, many Hong Kong people have migrated to other countries.From 1984 to 1997, due to the uncertainty of the transition back to China, thousands of well-educated and wealthy Hong Kong citizens go to countries such as Australia, Canada, and the United States, where they obtained permanent residency status or citizenship. 1CAUSE OF MIGRATION.Difference in economy system in china and hong kongChina is a communist country where socialist economy system holds while the people of hong kong followed capitalist economy .Fear in the stability of governmentPeople of Hong kong where worried regarding stability of government so they migrated to other nations.Competition in marketDue to the implementation of capitalist economy in Hong kong many giving and reputed companies headed towards hong kong and thus the competition of the market became tough. Thus it was very difficult for any(prenominal) business people to continue their business effectively.Corruption is a major task- Corruption in Chinese government was one of the major cause that people of hong kong was afraid of. They were not satisfied with the policy of Chinese government where putrefaction exists.Unsecure futureThe business people thought that their future was not secure as the government had implemented the law for only for 50 years and so it might happened that their next generation might have to struggle and face the socialist economy. The working class worried that 1997 might usher in sanatorium and the middle class fears the loss of property and freedom.Freedom of migrationHong Kong resi dents being free to move in and out of the territory, and they do not have to declare the draw a bead on of their movements to the authorities. This freedom of movement, much valued by the local population, has been enshrined in the Sino-British Joint Declaration about the future of Hong Kong beyond 1997.There was no rule of giving any reasons for the migration to any authorityPEST Analysis.1. POLITICAL ANALYSISPrior to July 1, 1997, Hong Kong was a British dependent territory. A British-appointed governor, representing the British crown, headed the Hong Kong government and exercised authority over civil and military matters. An Executive Council advised the governor on all important matters and a 60-member Legislative Council (known as Legco) enacted laws and oversaw the budget. With the territorys transfer to China in 1997, leading passed from the last British governor, Chris Patten, to a Chinese chief executive, Tung Chee-hwa AThe British control of Hong Kong began in 1842, whe n China was forced to cede Hong Kong Island to Britain after the list 1 Opium War. In 1984 Britain and China signed the Sino-British Joint Declaration, which stipulated that Hong Kong return to Chinese rule in 1997 as the Hong Kong Special Administrative Region (SAR) of China . China is in a submit of transition now. Being a socialist country, it has carefullychanged its political system in recent years, while dramatic changes have interpreted place in its economic system. In 1979, China started its open policy and economic reform. The Chinese government persisted on carrying out the political guideline of development economy and enriching ChineseThe Joint Declaration and a Chinese law called the Basic Law, which followed in 1990, provide for the SAR to operate with a high degree of economic autonomy for 50 years beyond 1997 Bpeople.Legal SystemThe governments efforts to promote rule of law are significant and ongoing. After the Cultural Revolution, Chinas leaders aimed to devel op a legal system to restrain abuses of official authority and revolutionary excesses. In 1982, the National Peoples Congress adopted a new state constitution that emphasized the rule of law under which even party leaders are theoretically held accountable C.2. ECONOMICAL ANALYSISHong Kongs prosperous economy is reflected in the lifestyle of its people. They have one of the highest standards of living in all of Asia, and it is more than 30 times higher than Chinas average standard of living. In 2006 Hong Kongs per capita primitive domestic product (GDP) was $27,679.20, although much of the wealth is concentrated into relatively some hands D.Foreign InvestmentChinas investment climate has changed dramatically in a quarter-century of reform. In the early 1980s, China restricted foreign investments toexport-oriented operations and required foreign investors to form joint-venture partnerships with Chinese firms. Foreign direct investment (FDI) grew quickly during the 1980s, entirely slowed in late 1989 in the aftermath of Tiananmen. However, the Chinese Governments emphasis on guiding FDI into manufacturing has led to market saturation in some industries, while expiration Chinas services sectors underdeveloped. China is now one of the leading FDI recipients in the world, receiving over $80 billion in 2007 according to the Chinese Ministry of Commerce E.FOREIGN trafficSince its establishment, the Peoples Republic has worked vigorously to win international support for its position that it is the sole legitimate government of all China, including Hong Kong, Macau, and Taiwan. In the early 1970s, Beijing was recognized diplomatically by most world powers. Beijing assumed the China seat in the United Nations in 1971 and has since become increasingly active in four-lobed organizations. Japan established diplomatic relations with China in 1972, and the United States did so in 1979. As of March 2008, the number of countries that had diplomatic relations with Beijing had risen to 171, while 23 maintained diplomatic relations with Taiwan F.Hong Kongs greatest growth and development occurred after the Communist takeover of China in 1949, when the commercial and shipping functions of Guangzhou and Shanghai shifted to Hong Kong.. Hong Kong served as Chinas window to the world during the Chinese administration of Mao Zedong. After Maos death in 1976, Hong Kongs role as a banker to China, and as its supplier of information, technology, and capital, intensified G.The Impact of Chinas Entry into WTO on Car IndustryChina is successful in attracting foreign investment. of income tax. On the other hand, the Chinese car industry has been protected by special policies that limit foreign investment. According to the current Chinese policy on motor industry, Ford will establish a joint venture with 50% share with Chang An Automobile Company in Sichuan Province. Chang An Automobile Company is the 3rd largest car manufacturer in China, which has the experience of car-making for more than 20 years.3. SOCIAL CULTURAL ANALYSISChina is a multinational country, with a population composed of a large number of ethnic and linguistic groups. The Han (Chinese), the largest group, outnumber the minority groups or minority nationalities in every province or autonomous region except Tibet and Xinjiang. The Han, therefore, form the great homogeneous mass of the Chinese people, sharing the same culture, the same traditions, and the same written language. For this reason, the general basis for classifying the countrys population is largely linguistic rather than ethnic. whatsoever 55 minority groups are spread over approximately three-fifths of the countrys total area.Where these minority groups are found in large numbers, they have been given some semblance of autonomy and self-government autonomous regions of several types have been established on the basis of the geographic distribution of nationalities. HEducation is free and controlling for all children from the age of 6 to 15, and adult literacy is over 90 percent.. The Hong Kong Academy of Performing Arts offers courses in dance, music, theater, and technical arts. There are also more than a dozen technical institutes, technical colleges, and teacher-training colleges, which have large numbers of part-time students I.RECOMMENDATIONSChina has experienced a stable political system (which is considered totalistic) with rapid economic growth for more than 10 years, but some political risks still exist. The Chinese government is still insisting on its communist and totalitarian policy, there is no guarantee that China will continue to its open policy and maintain the rapid GNP increase.China also has an unsatisfied gentle right record corruption exists in some economical activities in China, all these will be obstacles to foreign investment. Although the legal system of China is equal to protect foreign investment, the violation of laws by some local authorities will be a potential risk to our investment.Entry Time and influenceAlthough the car industry is declining in the US and Europe, it is still a suitable time for Ford Motor Company to invest in China. As the second largest car manufacturer in the world, Ford had been waiting patiently to enter the Chinese Market for more than 20 year. Some other world-famous car manufacturers (such as Volkswagen, General Motor, Toyota, etc.) had already started their business years ago, but we do not consider that it is too late to enter the Chinese family car market.Ford has been producing its pass across van in China for many years. The productivity and sales are not as good as expected because of the high cost (price) and limited production..CONCLUSIONIts my first pleasure to do something special kind of project related to Business Environment. With the help of this project I able to learn few special things that was really fantastic and completely unknowing before completion of this project. This experien ce was really outstanding.This essay applies a historical-institution approach to assess the impact of this situation on Chinas legal and political institutions. In each case historical and institutional trends are described, and the effects of legality on these trends are examined. The topics complicate changes in economic structure and the rate of growth of GDP, formal legal institutions and legal behavior of the Chinese people, and the forces toward the development of democratic political institutions.