China, Hong Kong and the world economy : studies on globalization

This book examines the transformation of the economies of China and the Hong Kong Special Administrative Region through the process of globalization. This transformation has important implications for the world, in part because China has fast become the world's 6th largest economy through the globalization process, and in part because Hong Kong as the world's freest economy has been seen to bear the brunt of the opening up of China, to the extent that a Fortune magazine cover story in 1995 announced its impending 'death.' This volume provides comprehensive coverage of such subjects as industrial restructuring, financial markets, technology, agriculture, exchange rates, trade and FDI, the environment, income distribution, and corporate governance. The message is clear: China's influence on the world economy continues to grow and it is playing a more and more important role, and notwithstanding problems and hiccups, is contributing to a sustainable, prosperous world economy.