The role of Hong Kong in Sino-American economic relations

Yak Yeow KUEH, Jan Piaw, Thomas VOON

    Research output: Book Chapters | Papers in Conference ProceedingsBook ChapterResearchpeer-review

    Abstract

    Hong Kong has traditionally been a very important source of China's foreign exchange earnings. Prior to the 1980s, generally about one-quarter to one-third of the country's hard foreign currency earnings were generated from exports to Hong Kong. Tiny as the British enclave may be in geographic terms, and with a population of only six million, it has nonetheless always been a very important market for China's food and food-processing industries, as well as textile and clothing manufacturers. Sales to Hong Kong have earned the Chinese government the bulk of the hard currency needed to finance her enormous import bills incurred with major western suppliers of steel, machinery and high-tech products. This specific role played by Hong Kong in financing China's industrialization programme is of course widely understood. Yet hardly any observers have come to realize that the bulk of China's food and clothing exports to Hong Kong represent none other than Hong Kong's wage outlay on labour inputs necessary for sustaining its production of exports, which are, as is well known, overwhelmingly destined for the major Western markets, the United States in particular.
    Original languageEnglish
    Title of host publicationThe Political economy of Sino-American relations : a greater China perspective
    PublisherHong Kong University Press
    Pages61-92
    Number of pages32
    ISBN (Print)9789622094406
    Publication statusPublished - 1 Jan 1997

    Fingerprint

    economic relations
    Hong Kong
    China
    clothing
    food
    currency
    foreign exchange
    market
    bill
    industrialization
    supplier
    sales
    import
    wage
    finance
    labor
    industry

    Cite this

    KUEH, Y. Y., & VOON, J. P. T. (1997). The role of Hong Kong in Sino-American economic relations. In The Political economy of Sino-American relations : a greater China perspective (pp. 61-92). Hong Kong University Press.
    KUEH, Yak Yeow ; VOON, Jan Piaw, Thomas. / The role of Hong Kong in Sino-American economic relations. The Political economy of Sino-American relations : a greater China perspective. Hong Kong University Press, 1997. pp. 61-92
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    KUEH, YY & VOON, JPT 1997, The role of Hong Kong in Sino-American economic relations. in The Political economy of Sino-American relations : a greater China perspective. Hong Kong University Press, pp. 61-92.

    The role of Hong Kong in Sino-American economic relations. / KUEH, Yak Yeow; VOON, Jan Piaw, Thomas.

    The Political economy of Sino-American relations : a greater China perspective. Hong Kong University Press, 1997. p. 61-92.

    Research output: Book Chapters | Papers in Conference ProceedingsBook ChapterResearchpeer-review

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    KUEH YY, VOON JPT. The role of Hong Kong in Sino-American economic relations. In The Political economy of Sino-American relations : a greater China perspective. Hong Kong University Press. 1997. p. 61-92