Method In exploring the relationship between Hong Kong and its sovereign ruler, the People?s Republic of China

Method In exploring the relationship between Hong Kong and its sovereign ruler, the People?s Republic of China

In order to fully grasp the relationship between Hong Kong and China, one must first develop an understanding of the history. After 150 under British control, Hong Kong was returned to Chinese rule in 1997 as a Special Administrative Region (SAR).

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The Hong Kong SAR was instituted under a Chinese policy or mission statement of ?one country, two systems.? This slogan embodies the Chinese leaders? goal of reunifying Hong Kong with mainland China, while permitting a co-existence of different political, social, and legal systems. …

As such, Hong Kong has continued to use its pre-1997 currency, the Hong Kong dollar, while the PRC uses its own currency: the Renmibi.

Interestingly, the HK dollar is treated as foreign tender within the mainland, and the same goes for the Renmibi within Hong Kong. While China and Hong Kong may treat each other?s currencies as foreign, they are intricately connected and highly circulated.

For example, Hong Kong is China?s number one foreign investor, as they account for over half of the country?s total foreign capital.

Thus, Hong Kong holds an important role for the soon-to-be largest world economy, as its premier trading partner and ?foreign investor.

Hong Kong: Model of Wealth but Lacking Complete Representation To explore the power and ever-increasing potential of the Hong Kong economy, I am shining light on the Economic Freedom of the World index (analysis performed by the Fraser institute, a Canadian think tank).

According to this institutes