Globalization, Regionalization, and the Knowledge‐Based Economy in Hong Kong
Globalization, Regionalization, and the Knowledge‐Based Economy in Hong Kong
The Hong Kong economy has been influenced by globalization, regionalization, and the emergence of the knowledge‐based economy perhaps more than any other. Hong Kong is unique in terms of its geographical location, its position in global production and service networks, its openness to market forces, and its history. As a result, it has been able to take advantage of globalization to develop a regional economy that is among the world's most knowledge intensive. This development has created one of the world's most prosperous economies, but it also has left Hong Kong vulnerable to external shocks such as the economic crisis that began to grip Asia in the middle of 1997. This chapter examines these issues.
Keywords: Asian economic crisis, globalization, Hong Kong, knowledge‐based economy, regionalization
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