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  • Economic Changes in Hong Kong

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    Hong Kong experienced three phases of economic change between 1841 and 1997. Initially, its role was as an entrepot with shipping and ship repair industries. From the 1950s to 1970s, light industries rapidly developed due to cheap labor. Finally, from the 1980s to 1997, Hong Kong industries moved to China and its economy transitioned to focus on financial and services as its structure changed.

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    A simple outline on economic changes in Hong Kong from 1841 to 1997.

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    Hong Kong experienced three phases of economic change between 1841 and 1997. Initially, its role was as an entrepot with shipping and ship repair industries. From the 1950s to 1970s, light industries rapidly developed due to cheap labor. Finally, from the 1980s to 1997, Hong Kong industries moved to China and its economy transitioned to focus on financial and services as its structure changed.

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    5 views1 page

    Economic Changes in Hong Kong

    Uploaded by

    makandrew1517
    Hong Kong experienced three phases of economic change between 1841 and 1997. Initially, its role was as an entrepot with shipping and ship repair industries. From the 1950s to 1970s, light industries rapidly developed due to cheap labor. Finally, from the 1980s to 1997, Hong Kong industries moved to China and its economy transitioned to focus on financial and services as its structure changed.

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    © All Rights Reserved
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    Economic changes in Hong Kong (1841-1997)

    - Hong Kong experienced 3 important phases in this time period.


    - (i)1841-1941: Hong Kong’s economic role was an entrepot. There were also
    shipping, ship-repairing industries but the economic development was quite
    static.
    - (ii) 1950s-1970s: With the rapid rise of population in Hong Kong, cheap labour
    force helped the rapid development of light industries.
    - (iii) 1980s- 1997: With the Reform and Opening Up Policy of China, Hong Kong
    industries were moved to China, Hong Kong’s economic structure also underwent
    changes, it promoted financial and services sector in Hong Kong.

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