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> except through Hong Kong. Pardon my ignorance. Why would China make that exception? Is Hong Kong a more important trading centre than (say) Shanghai?
by denton-scratch 3y ago
> except through Hong Kong.
Pardon my ignorance. Why would China make that exception? Is Hong Kong a more important trading centre than (say) Shanghai?
- corethree 3y agoTimes change. A typical Chinese metropolis completely dwarfs hong Kong. That's why China was willing to back pedal on the autonomy deal for hong Kong because its no longer means much as an economic powerhouse. Almost every other Chinese city has left it in the dust. You know this, but a lot of people are just behind on the current economic reality. Not surprising given the speed at which china moves.
- seanmcdirmid 3y agoHong Kong is still much more open than any city in the PRC for foreigners. If you care about trade, doing trade in Shanghai, Yiwu, Wuhan, etc...it isn't going to be as easy as it is Hong Kong even if it just means getting a visa and converting your capital into RMB. Compare Pudong (or Beijing, or any PRC city) airport to HK airport. You can tell the commercial activity between each is on a different level, and that's just an analogy for how things work in China.
- seanmcdirmid 3y agoChina used Hong Kong as a neutral trading ground when it was closed off (to sell things and import things), which is why much of China's industrial capacity was built up in the Pearl Delta region. If China closed up again, they could be using Hong Kong again like they did in the past, especially if they keep it separate from the rest of mainland administration like they do today. But it isn't guaranteed.