The Fate Of Hong Kong Essay, Research Paper

The Fate of Hong Kong

Hong Kong is a British settlement, & # 8230 ; but non for long. Hong Kong will go the Hong Kong Special Administrative Region of China on July 1, 1997 when Britain & # 8217 ; s rental is up. China promises non to alter Hong Kong for at least 50 old ages, but this is non halting Hong Kong occupants from worrying about how their new life will be. The whole universe is watching to happen out & # 8230 ; the destiny of Hong Kong.

Hong Kong antecedently was a little fishing community. Hong Kong was particularly vulnerable to plagiarists every bit good as opium traders. Britain, originally, acquired Hong Kong for usage as a naval base during the Opium Wars, and because of its brilliant natural seaport, Victoria Harbour. After the first Opium War, Britain acquired Hong Kong through the Treaty of Nanjing in 1842. The Treaty of Nanjing ended the first Opium War. In 1898, it was agreed that Great Britain would command all lands antecedently owned by China for 99 old ages.

Many times, throughout the history of Hong Kong, Chinese would fly to Hong Kong in hunt of safety. Since Hong Kong was a & # 8220 ; free & # 8221 ; land, the Chinese people felt safe at that place. Hong Kong is 98 per centum Chinese with 5,800,000 Chinese people. Hong Kong besides has 57,000 Filipinos, 60,000 British and Americans, and 30,000 Indians. Hong Kong is highly heavy with 13,976 people per square stat mi. Now more than 60,000 people emigrate from Hong Kong a twelvemonth.

The unit of currency in Hong Kong is the Hong Kong dollar. One U.S. is equal to 7.5853 Hong Kong dollars. The Hong Kong dollar is non widely used. Because of the trading in Hong Kong many different currencies are used. The Hong Kong dollar, being used so seldom, would non be ideal for trading usage.

Hong Kong is a really of import trading port for the universe. Victoria Harbour is one of the largest and most active ports in the universe. Hong Kong, as a trading port, is particularly of import for China. Since China is so close Hong Kong, both China & # 8217 ; s imports and exports go through Hong Kong. Hong Kong is besides an of import trading port for Great Britain. Hong Kong & # 8217 ; s imports are valued at 72.2 billion dollars. Hong Kong & # 8217 ; s exports are valued at 73.1 billion dollars. This is really good for Hong Kong & # 8217 ; s economic system. Both China and Britain addition by holding control of Hong Kong.

Hong Kong is governed with counsel from London. The people of Hong Kong are pleased with their authorities at the minute. The authorities is assisted by a 14 member executive council. There is besides a 60 member legislative council. Hong Kong besides has a supreme tribunal. The supreme tribunal is divided into the Court of Appeal, and the High Court.

In September of 1984, China and Great Britain reached an understanding. The understanding was reached in Hong Kong about the destiny of Hong Kong. China and Great Britain agreed that on July 1, 1997, Hong Kong would go a Chinese settlement. Hong Kong will be allowed to keep its ain legal, societal, and economic personal businesss for at least 50 old ages. However, China would presume duty for Hong Kong & # 8217 ; s foreign personal businesss and defence.

The people of Hong Kong are now go forthing. They are seeking to acquire off from Chinese regulation. Many of them came to Hong Kong from China because of the Chinese authorities. The Chinese authorities will non alter Hong Kong & # 8217 ; s manner of life for 50 old ages, or so they say. While Hong Kong will stay democratic for 50 old ages, their manner of life will be changed dramatically. Many people think that Hong Kong will non be left for 50 old ages. They think that China will desire to acquire a head-start on doing Hong Kong more like China. Others feel that China will go forth Hong Kong entirely for 50 old ages, but after that & # 8230 ; Hong Kong is in for a daze. Finally, a few people feel that China will go forth Hong Kong for 50 old ages and after that adapt Hong Kong easy.

Britain is besides expected to be greatly affected by the loss of Hong Kong. Since Britain is non near Hong Kong, like China, Britain bases

to free by giving up Hong Kong. Besides, Britain will hold less interaction with Hong Kong and in bend Hong Kong stands to free Britain as a major trading spouse. Britain will besides endure by non holding Hong Kong as such a great trading port. Hong Kong and Britain will free in the classs of both, imports and exports.

For the first 50 old ages of China & # 8217 ; s regulations, Hong Kong will stay a major trading port to the universe. China will besides derive from Hong Kong, but non every bit much as what it thought. When Chinese trade through Hong Kong is thought approximately, people figure in all Chinese trade along with South China & # 8217 ; s trade and Guangdong & # 8217 ; s trade. China stands to do a little addition because of the short distance from China to Hong Kong. In 1989, Hong Kong handled 48 per centum of China & # 8217 ; s entire trade, while 39 per centum of the exports were re-exports. This leaves a really little sum of the exports as China & # 8217 ; s true exports.

Hong Kong has a premier location for trade and that will ever be a great factor in the sum of trade that goes through Hong Kong. No affair who is in control of Hong Kong it will ever be a big trading port. The inquiry is ; after 50 old ages, will Hong Kong still be an unfastened, international port. Hong Kong & # 8217 ; s trade is critical to China every bit good as Asia. Many historiographers feel that Hong Kong will stay an unfastened port for much longer than 50 old ages.

Hong Kong is confronting many jobs in the hereafter. China is besides confronting these jobs. Chinese functionaries fear that Hong Kong merchandisers and citizens will resent the Chinese. The citizens of Hong Kong and the Chinese will hold great jobs if they do non work out their differences. Life in the hereafter will be really hard for both the Chinese and the citizens of Hong Kong if they do non acquire along. Since the people of Hong Kong and the Chinese will be making much of their concern together they must work out their differences rapidly, before July.

Chinese functionaries are disquieted that the citizens of China will be upset that they must follow the Chinese authorities while the Chinese citizens in Hong Kong will still hold their democratic manner of life.

The destiny of Hong Kong after 50 old ages is unknown. It is suspected that China will alter Hong Kong & # 8217 ; s authorities to be like China & # 8217 ; s. Hong Kong & # 8217 ; s population is expected to diminish dramatically in the close hereafter. many people populating in Hong Kong now will go forth Hong Kong to acquire off from China & # 8217 ; s regulation. However, many Chinese are expected to emigrate to Hong Kong.

Hong Kong is besides really of import to America. In the hereafter, the manner in which the United States Government trades with Hong Kong will impact how the authorities trades with China. Most Americans, nevertheless, are non worried about our hereafter relationship with Hong Kong or China. Few are concerned with how trade will alter because most are really optimistic, experiencing that trade will hardly alter.

The destiny of Hong Kong is unknown and will remain that manner until July 1. Peoples, nevertheless, can state and think what they want. But the truth is nobody truly knows the true destiny of Hong Kong. Whether China will maintain its promise and non touch Hong Kong for 50 old ages, no 1 knows. Peoples suspect that China will go forth Hong Kong untasted, but so once more they can merely surmise non cognize. One thing is for certain, nevertheless, Britain and China are traveling to alter along with the remainder of the universe. Neither Britain nor China might alter really much, but they will alter. Britain might remain merchandising spouses with Hong Kong, but it will ne’er be as close. Britain might non lose trade or money, but it will non be the same as it was when it had the most powerful trading port in the universe. China, on the other manus, stands to derive the most powerful trading port in the universe. If they will maintain it this manner, no 1 knows. How China will regulate Hong Kong, no 1 knows. No affair what happens on July 1, 1997, the universe is traveling to alter, possibly non for the worse, possibly non for the better, but the universe is traveling to alter.