This book explores the manifold ways that the current confrontations between China and the US, and political tensions within the Special Administrative Region (SAR) has brought Hong Kong to the forefront of emerging political frictions between Beijing and the territory and growing international rivalry between the two powerful nations of the world. Unlike the situation in the post-WWII decades, which witnessed the internationalisation of the Hong Kong economy, this “New Cold War” poses challenges to the SAR’s status as a global city and international financial and business centre. The enactment of the National Security Law and the growing presence of Beijing in regulating the SAR’s domestic affairs triggered strong reactions from many countries. Hong Kong has to bear some of the consequences of measures imposed onto China as a result of current controversies. The shadow of China also raises many eyebrows about the prospects of Hong Kong as a free and liberal city. And the outbreak of COVID-19 and the concomitant interruption to economic flows and the movement of people further complicate the situation.
This book will be of great value to students and scholars in the fields such as Economics, Sociology and Asia Pacific studies. The chapters in this book were originally published in the Asia Pacific Business Review.
1. Introduction—Hong Kong as a global business hub: lessons from institutional resilience and strategic responses
Tai-lok Lui, Ingyu Oh and Chris Rowley
2. Still in command and control? Hong Kong’s headquarters economy in the changing global and regional context
3. Geopolitics and Hong Kong as international financial centre: a dynamic IPE perspective
Gregory T. Chin
4. The economy of the Sino–US conflict: its impact on Chinese firms listed in the US and Hong Kong as a financial hub
T. K. P. Leung and Lawrence H. W. Lei
5. Trading as usual? Navigating Hong Kong’s roles in global trade architectures
Yu-wai Vic Li
6. The Sinicisation of the Hong Kong economy or the Hongkongnisation of the Greater Bay Area: are we ‘barking up the wrong tree’?
Godfrey Yeung and Tai-lok Lui
7. Hong Kong’s economic integration with Chinese mainland: an index and cointegration analysis of socio-economic indicators
Geng Cui and Yuho Chung