Hongkong - trzy lata pod jurysdykcją ChRL
Hong Kong: the three years after the unification
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The fears, propagated by some circles, that the unification of Hong Kong with the PRC will bring there a „Communist revolution”, proved to be groundless. After 1997 the independence of the city and previous civil freedoms were essen- tialy maintained. One can notice, however, some changes. Beijing’s authorities control the city’s legal system, on the request of its Legislature, not the British ones. Mass media are free but under new political circumstances restrict by themselves their criticism towards the PRC. Numerous Hong Kong Chinese that previously emigrated return. Political and social stability has been restored and the PRC’s support facilitated overcoming of the financial crisis. The anti-Beijing political forces still operate, but enjoy much less social support and suffer factional struggle. The protests in Hong Kong moved from political field to the social one. The Hong Kong economy overcame the consequences of the Asian financial crisis by 2000. Revenues of the banking sector are on the rise and the number of banking institutions amounts to 1580. Daily currency trade amounted to USD 91 billion. In the last 3 years the state-of the art operational financial methods were introduced. Hong Kong has survived as a powerful international center of investment capital: A rising financial potential resulted in inviting Hong Kong as the only non- G-7 member to the Financial Stability Forum. In 2000 regional offices of the World Bank, IMF and the Bank for International Settlements were opened in Hong Kong. Hong Kong continues to be primarily the international brokerage center. This function will be strengthened in the 21st century which is connected with China WTO membership.
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