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Hong Kong: The Fragile Economy of Middlemen
Author(s) -
Wan, Jr Henry Y.,
Weisman Jason
Publication year - 1999
Publication title -
review of international economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.513
H-Index - 58
eISSN - 1467-9396
pISSN - 0965-7576
DOI - 10.1111/1467-9396.00173
Subject(s) - china , modernization theory , beijing , economics , imperfect , world economy , international trade , chinese economy , world trade , perfect information , international economics , economy , development economics , political science , economic growth , law , microeconomics , linguistics , philosophy
The paper shows that standard trade models can be adapted to address crucial policy issues in our dynamic, imperfect‐information world. It also shows that intermediated trade is essential to the modernization of the 1.2 billion‐person Chinese economy; yet, notwithstanding sincere intentions in Beijing and Hong Kong, subtle changes may deny Hong Kong its irreplaceable catalyst role, leaving China ultimately to technical stagnation.